Ferring on its way with potential blockbuster drug  

2004.03.23
Ferring Pharmaceuticals plans to make the third and final clinical test during this year of its promising drug Degarelix for the treatment of prostate cancer

Ferring Pharmaceuticals plans to make the third and final clinical test during this year of its promising drug Degarelix for the treatment of prostate cancer. International industry observers believe that the drug could become a blockbuster product – which means a drug with annual sales of more than DKK 6 billion (USD 1 billion).

 

Ferring's deputy chief executive, Michel L. Pettigrew says there is a great need for drugs for prostate cancer and Degarelix is in a new class compared to existing products in the field. A launch of a blockbuster could have a rapid and dramatic effect on Ferring, generating revenues of DKK 14.4 billion (USD 2.4 billion) over a short period. Currently revenues are running at DKK 4.5 billion (USD 0.7 billion) annually.

 

Ferring Pharmaceutical is headquartered in Copenhagen and employs 2000 people in 40 countries. It develops and markets products in the fields of urology, gynaecology, gastroenterology and endocrinology. The news is reported by national broadsheet Berlingske Tidende online.

 

Link > Ferring Pharmaceuticals 

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