J&J Expects Procrit Stability Under Medicare Average Sales Price Model
This article was originally published in The Pink Sheet Daily
Executive Summary
Despite volume gains, Procrit sales slumped 12% over the year due to pricing pressue. The growing EPO market coupled with pricing stability under Medicare Part B offers an opportunity for Procrit growth in 2005, Johnson & Johnson Worldwide Chairman Poon says.
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Procrit Could Return To Growth Later This Year, J&J Says
Anemia therapy should reverse a quarterly sales decline brought on by competition from Amgen, Johnson & Johnson maintains. Worldwide sales were up for the second quarter.
Procrit Sales Slump Continues Due To 10% Year-Over-Year Price Decline
Conditions, however, are more favorable than in previous quarters due to a June price increase on the EPO brand, J&J says. With prices locked into 12-month contracts, it may take awhile for J&J to reap the full benefit of the price increase.