Xtandi as a leading oncology drug

Medivation (MDVN) is an oncology-focused biopharmaceutical company, and Xtandi is its only approved drug. Xtandi’s use as first-line therapy in metastatic castration-resistant prostate cancer (or mCRPC) is rising. Within three and a half years of its launch, the drug is now the eighth-largest oncology drug in terms of worldwide sales.

For more information on the drug, please refer to Opportunities For Xtandi, Medivation’s Key Drug and Xtandi: A Major Prostate Cancer Drug

Medivation Sees Growth in Xtandi: A Major Oncology Drug

With continued label expansion, it’s expected to become the fourth-best-selling drug by fiscal 2021. It’s poised to become the best-selling oncology drug in Europe by fiscal 2022. In terms of European sales, Xtandi is expected to surpass Bristol-Myers Squibb’s (BMY) Opdivo and Celgene’s (CELG) Revlimid. With biosimilar availability, Roche’s (RHHBY) blockbuster drugs may be displaced.

Prescription growth

In the oncology space, prescriptions grew 90% annually during the first quarter of 2016. Overall growth for the total and new prescriptions stood at 6% and 7%, respectively. Duration of the drug’s use was a key factor driving sales.

Xtandi’s prescriptions in oncology exceed its urology prescriptions. To further enhance sales, MDVN has expanded its specialty sales force. It trained 40 additional sales representatives. The impact on the drug’s sales will be visible in later quarters. As of March, the sales force hadn’t hit the market.

Industry-specific factors such as pricing pressure, pipeline approval, and volume uptake contribute to the company’s share price performance. To avoid direct risk, an ETF could be an option. To get exposure to Medivation and control excessive company-specific risks, you can access the iShares Russell Mid-Cap Growth ETF (IWP). Medivation accounts for 0.32% of IWP’s total holdings.

Latest articles

Today, Canopy Growth announced that it acquired the Saskatchewan-based KeyLeaf Life Sciences along with entities relating to the company and its intellectual property. Here's what you need to know about the completed deal.

Yesterday, Tyson Foods (TSN) and fellow meat producers Pilgrim’s Pride (PPC) and Sanderson Farms (SAFM) took a hit to their stocks after news came out about an investigation over price-fixing allegations.

On June 24, RH (RH) was trading at $115.01, implying a rise of 21.2% since its announcement of its first-quarter earnings results on June 12. Despite the surge in its stock price, the company is still trading at a discount of 29.1% to its 52-week high.

26 Jun

Roku Stock Fell Close to 7.0% Yesterday

WRITTEN BY Aditya Raghunath

Roku stock fell 6.8% yesterday to close trading at $93.25 per share. Roku stock has lost over 9.0% in market value in the last two trading days. Prior to this pullback, Roku stock was up a whopping 235.0% year-to-date.

26 Jun

Beyond Meat Stock Up Today on New Product Launch

WRITTEN BY Rajiv Nanjapla

Today, Beyond Meat (BYND) announced that its new product, Beyond Beef, will hit markets across the US later this week.

FedEx (FDX) ended fiscal 2019 on a dismal note and reported a significant YoY decline in fourth-quarter earnings. The delivery giant posted adjusted EPS of $5.01, which was 15.2% lower than the year-ago quarter’s earnings of $5.91. The company cited sluggish revenue growth and increased expenses as the main reason behind the dismal bottom-line performance.