King Lowers Sonata Forecast, Citing Increased Competitive Activity
This article was originally published in The Pink Sheet Daily
King takes $126.9 mil. charge in the second quarter related to Sonata; quarterly sales of the sleep aid are up due to inventory reductions.
You may also be interested in...
King Pharmaceuticals is attributing a rebound in branded pharmaceutical sales during the second quarter in part to lower wholesaler inventories
Ramelteon clears FDA for "treatment of insomnia characterized by difficulty with sleep onset." Takeda is positioning Rozerem as the only prescription insomnia agent that does not carry controlled substance scheduling.
The company seeks to exploit the benefit of middle-of-the-night dosing for zaleplon through a direct-to-consumer campaign. Ads for Sepracor's Lunesta and Sanofi-Aventis' Ambien will help grow the insomnia category rather than take share away from Sonata, King exec predicts.