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The Liposome Company

Executive Summary

Due to continued growth in sales of Abelcet (amphotericin B lipid complex), TLC expects to show a profit for the first time in the company's history when fourth quarter results are released at the beginning of February, CEO Chuck Baker announced Jan. 13. For the nine months ended Sept. 30, 1998, Abelcet showed a 35% unit sales growth, with similar growth projected for the fourth quarter. TLC expects to be profitable for the full year in 1999, based on continued Abelcet sales and expected approval of the company's liposomal doxorubicin Evacet. The company filed a BLA for the metastatic breast cancer therapy Dec. 14. Results of the pivotal trials of Evacet show the drug to be equivalent to free doxorubicin in efficacy, but with significantly less cardiotoxicity. TLC plans to continue Evacet studies as a combination therapy with Bristol-Myers Squibb's Taxol, Rhone-Poulenc Rorer's Taxotere and Genentech's Herceptin, Baker said
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