Pink Sheet is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

MMD's SELDANE D SALES ARE $ 24 MIL. SINCE AUGUST LAUNCH; IMMUNEX' LEUKINE SALES NEAR $ 20 MIL.; MONISTAT 7 PROPELS J&J U.S. CONSUMER SALES UP 18.5%

Executive Summary

Marion Merrell Dow's Seldane D prescription antihistamine/decongestant sales were $ 24 mil. in its first six weeks on the market, MMD reported Oct. 22. Seldane D (terfenadine/pseudoephedrine) was approved on Aug. 19 ("The Pink Sheet" Aug. 26, p. 8). MMD, however, had been taking orders from wholesalers since mid-March, and was prepared to begin shipping immediately upon approval to reach the market for the fall allergy season. The Seldane D launch, coupled with 29% sales growth for the single ingredient product Seldane, helped propel MMD to a 15% sales gain to $ 716 mil. for the quarter. Seldane had the largest increase in revenues through nine months for MMD as well: up 34%. Seldane sales in 1990 were $ 556 mil. MMD's calcium channel blocker franchise, Cardizem and Cardizem SR, showed a sales increase of 20% in the third quarter and are ahead 15% year to date, MMD said. The Cardizem products generated $ 745 mil. in sales last year. Sales of the anti-ulcer Carafate were off 2% in the quarter, but are up 3% for the year, MMD said. Nicorette smoking cessation chewing gum sales increased 21% in the quarter and have risen 15% through nine months. Marion Merrell Dow's sales through nine months were $ 2.1 bil., the company reported, up 13%. Net income rose 16% in the third quarter, to $ 155 mil., and 22% for the nine months, to $ 456 mil. Immunex' Leukine (granulocyte-macrophage colony stimulating factor) sales have reached $ 19.5 mil. since the product's March 5 approval, including $ 9.5 mil. in third quarter sales. Immunex received another $ 2.2 mil. for the sale of GM-CSF to Hoechst- Roussel (marketers of Prokine) in the third quarter, the company reported Oct. 24. Total revenues for Immunex were $ 17.4 mil. for the quarter and $ 42 mil. for the nine months, compared to $ 6.2 mil. and $ 28.3 mil. in the respective periods a year ago. Immunex reported its second consecutive profitable quarter with net income of $ 833,000; however, the company is still showing a loss of $ 2.8 mil. year-to-date. Johnson & Johnson's OTC switch of the vaginal fungicide Monistat 7 helped propel the company's domestic consumer sales revenues up 18.5% in the third quarter to $ 661 mil. "despite a relatively weak retail environment," J&J reported Oct. 22. Monistat 7 (miconazole) was approved for OTC use Feb. 27. Schering-Plough reported sales of its OTC vaginal yeast infection product Gyne-Lotrimin exceeded $ 20 mil. in its first two months on the market. J&J also cited the "outstanding performance by the expanded line of nonprescription cold and flu medications under the Tylenol brand" as a reason for its strong domestic OTC sales growth. Domestic OTC sales rose 17.3% to $ 1.8 bil. for the nine months. International consumer sales were down 2% for both the quarter and the nine months due to continued difficulties with the Brazilian market, J&J noted. Overall, sales for the consumer business increased 7.6% to $ 3.5 bil. for the nine months. Pharmaceutical sales for the third quarter were ahead 16.6% to $ 943 mil. A 23.8% domestic sales gain (to $ 396 mil.) paced the overall increase, thanks to "an outstanding quarter for Janssen USA and significantly higher revenues for Ortho Biotech, which earlier this year released Procrit [EPO]," J&J said. The nonsedating antihistamine Hismanal showed "substantially greater" sales "and the brand continued to gain market share." Pharmaceutical sales for the nine months climbed 15.8% to $ 2.8 bil., with roughly equivalent gains on the domestic and international sides. Consolidated sales were $ 3.1 bil. for the quarter, up 10%. For the nine months, J&J sales were $ 9.3 bil., an increase of 10.2%. Earnings were up 16% to $ 363 mil. for the quarter. For the nine months, earnings were $ 1.2 bil. up 30.3%. Disregarding a $ 125 mil. charge taken in 1990 for the discontinuation of some Latin American operations, earnings rose 14.5%. McKesson's drug distribution business segment sales increased 31% to $ 2.2 bil. in the second quarter (ended Sept. 30), the wholesaler reported Oct. 23. The increase was helped by the inclusion of $ 291 mil. in revenues from the company's Canadian subsidiary, Medis Health & Pharmaceutical Services, which was previously only 50% owned by McKesson and not included in consolidated revenues. Operating profit for the drug distribution segment increased 2% to $ 37.6 mil. for the quarter. "Lower pharmaceutical price increases from suppliers" contributed to a decline in operating profits in the U.S. drug distribution business for the quarter, McKesson said. "Fewer forward buying opportunities and increased spending to improve customer service and systems" also hurt profit margins, the company added. The profit contribution from Medis offset this decline, the company noted. For the six months, McKesson drug distribution revenues were up 23% to $ 4.2 bil. and operating profit increased 5% to $ 78.9 mil. U.S. drug revenues are ahead 13% for the half. McKesson's PCS prescription managed care business posted second quarter revenues of $ 23.9 mil., up 7.2%, the company said, with an operating profit of $ 6.4 mil., up 23%. For the six months, revenues rose 12% to $ 49.3 mil. while operating profit increased 46% to $ 14.9 mil. McKesson attributed the gains to increases in claims processed and improved productivity, including more intenseive use of computers and telecommunications. PCS was awarded a contract by John Hancock Mutual Life Insurance on Oct. 7 "for a major portion of a new managed care prescription program," McKesson said. The contract, effective Jan. 1, is for a program that could enroll up to 5 mil. individuals in employer-sponsored plans, McKesson said. Consolidated McKesson sales (including revenues from Armor All) were $ 2.6 bil. for the company's second quarter, up 25%. Net income was down 2% to $ 24.4 mil. For the six months, revenues were up 18% to $ 4.8 bil., while net income rose 1% to $ 51.5 mil., McKesson said. Chart omitted.
Advertisement
Advertisement
UsernamePublicRestriction

Register

PS019915

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel