Medical Marketing and Media - Crestor market share hit by damning AHA article
ASTRAZENECA’S cholesterol-lowering drug Crestor lost U.S. market share following the recent publication of a negative report in the American Heart Association journal Circulation.
Crestor’s U.S. new prescription market share fell to 6.1 percent from 6.6 percent in the week ending May 27, and to 5.8 percent the following week, London-based Code securities investment banking house analyst Paul Diggle told MMtSiM, citing figures provided by IMS Health.
“If U.S. market share remains below 6 percent, management will face a dilemma deciding whether to continue the very high level of Crestor promotional support or to ease back spending to protect financial performance,” Diggle said in an equity research note where he rated the stock to underperform.
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Circulation published a critical review of Crestor in its May 23 issue, saying that it had twice as many side effects - including deaths - of rival statin drugs.
AstraZeneca said it strongly disagreed with the findings and that it was incorrect to make assumptions about Crestor’s risks based on rates of post-marketing spontaneous adverse event reports.
-Stephen McGuire
Copyright CPS Communications Jul 2005
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