Zytiga – New Prostate Cancer Drug From BTG

October 6, 2011 by  
Filed under Prostate Cancer News

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Zytiga – New Prostate Cancer Drug From BTG

More good news for sufferers of prostate cancer from the medical arena.

BTG’s new prostate cancer drug seems to be doing very well so far.

This new Prostate Cancer drug called Zytiga, is designed by BTG for the specific task of treating those prostate cancer sufferers whose cancers are resistant to the other usual medical or even the advanced surgical treatments.

Zytiga Prostate Cancer drug has so far received regulatory approval in the United States and even Europe this year.

It is reported that each triggered milestone payments of £3m.

Read the news article below:

BTG upgraded its full-year profit forecasts on the back of better than expected results from its prostate cancer treatment drug, pushing up shares more than 12 per cent in the specialist pharmaceutical group.

The drug Zytiga, which is designed to treat men suffering from prostate cancer that is resistant to medical or surgical treatments, received regulatory approval in the US and Europe this year, each triggering milestone payments of £3m.

BTG develops and commercialises products for critical care, cancer and other disorders and not only sells its own marketed products, but also earns royalties and milestone payments on partnered products, which include Zytiga.

The drug, which is licensed to Johnson & Johnson, the US pharmaceutical company, has started to bring in royalty payments for BTG, which analysts estimate are worth about £5m a year to BTG.

The positive news prompted the FTSE 250 company to raise its full-year profit guidance from £140m to £160m-£165m, with analysts following suit. Shares in BTG, which have fallen from above 300p in July, on Wednesday rose 28.8p to 266.8p, giving the pharmaceutical group a market capitalisation of almost £800m.

“The approval in the US in April and in Europe in September came a lot earlier than expected because there was an interim analysis of the first phase III study, and it said: ‘Stop the study. Take everybody who is in the control group and offer them the Zytiga’,” Rolf Soderstromm, BTG, chief financial officer, told the Financial Times. Read more.

 

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