The growing demand for Eloctate, the hemophilia drug from Biogen Inc (NASDAQ:BIIB) is expected to grow this year which will result in increased revenue. The haemophilia patients who require long-acting therapies will readily embrace the drug. Its other hemophilia drug Alprolix has also received rapid uptake in the market probably because of new patient additions, but it has already drained a large ration of the drug’s demand.
The 2016 projection by Wall Street analysts is that there shall be a 38.7% rise on a year-over-year basis of Alprolix’s revenues which will settle at $325.4 million. However, this may be followed by a decline of Alprolix’s YoY revenue growth rate to 19.7%. Nevertheless, Eloctate sales are likely to hit a YoY growth of 39.7% which is an estimate of about $446.7 million.
Eloctate, which trades under European trade name Biogen’s Elocta in the United States, received its approval for use on November 24, 2015, from the European Medicines Agency (EMA) alongside Swedish Orphan Biovitrum AB (SOBI). Their approval was for the management of patients with hemophilia A in the European Union.
ELOCTA also serves as the trade name for rFVIIIFc in Sobi’s territory. It also has an approval of ELOCTATE [Antihemophilic Factor (Recombinant) a fusion that is used for treating haemophilia A in the U.S., Canada, Australia, New Zealand and Japan. And with Sobi being able to market Eloctate in additional markets, it is no secret that the sales of the drug will raise.
Alprolix and Eloctate help in decreasing general bleeding in patients suffering from severe hemophilia A and B. To reaffirm the drug’s effectiveness, Biogen presented extra data at the 57th American Society of Hematology Annual Meeting and to give more assurance that the drugs were worth a trial.
Nevertheless, the new research expected to take place will certainly propel Eloctate sales in future years. And since the Biogen accounts for 4.3% of PJP’s total portfolio holdings, it is also most likely that the research will have a continuing impact on share prices of the PowerShares Dynamic Pharmaceuticals (ETF) (NYSEARCA: PJP).