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Erectile dysfunction drug responsible for ICOS 4th-quarter profit
February 8, 2006
Investors were pleased to see the first drops of
black ink on Icos' books in results reported Tuesday, but a predicted
slowdown in sales growth this year contributed to a slide in after-hours
trading. Erectile
dysfunction (ED) drug Cialis,
a competitor of ED drug Viagra
had global sales of $747 million in 2005, a 35 percent increase
over 2004. In December, the drug held a quarter of the U.S. market,
up 5 percentage points from a year earlier. And costs for selling
and marketing continued to decline.
These factors contributed to a $5.6 million fourth-quarter profit,
the first in the Bothell company's 15-year history. But earnings
of 9 cents a share, triple analysts' expectations, didn't distract
investors from the company's forecast that Cialis sales in 2006
will reach $860 million to $900 million, a growth rate of 15 to
20 percent. The drug is sold through a joint venture with Eli Lilly.
ED drugs Cialis, Viagra and Levitra
are approved by FDA for the treatment of erectile dysfunction or
impotence.
To read more, visit: http://seattletimes.nwsource.com/html/businesstechnology/2002791206_icos08.html?syndication=rss
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