Sun Pharma up on Taro's Keveyis launch, $100mn sales seen
Credit Suisse has build in USD 100 million in sales for Keveyis in FY17. â€œTaro launched Keveyis at a high price of USD 163.8 per tablet of 50mg. This implies annual cost of USD 120,000 per patient.
September 14, 2015 / 07:55 PM IST
Shares of Sun Pharma jumped 1.5 percent intraday on Monday as its subsidiary, Taro has launched Keveyis which is used to treat periodic paralysis.
Credit Suisse has build in USD 100 million in sales for Keveyis in FY17. “Taro launched Keveyis at a high price of USD 163.8 per tablet of 50mg. This implies annual cost of USD 120,000 per patient. The size of the drug depends on how many patients shift to Keveyis. Super set is 5000 in the US and blue sky peak sales could be USD 600 mn,” the brokerage firm says in a note.
Taro received approval for Keveyis (dichlorphenamide) on August 10 and launched Keveyis on September 9 priced at USD 16380 for a bottle of 100 tablets. Keveyis is approved to treat periodic paralysis and the dosage starts at twice a day of 50mg strength. Hence, the annual cost of Keveyis treatment is USD 120,000 per patient.
As per Taro, Keveyis is the first medicine approved by the FDA for the treatment of primary periodic paralysis, which affects approximately 5,000 people in the United States. The success of Keveyis will depend on the number of patients that start using Keveyis.
“Keveyis does not cure periodic paralysis and only helps in reducing the number of attacks. Therefore, medicine needs to be continued for an elongated period of time. We provide sensitivity of possible peak sales for Keveyis, depending on how many patients switch to Keveyis,” Credit Suisse adds.
At 13:19 hrs Sun Pharmaceutical Industries was quoting at Rs 853.55, up Rs 7.95, or 0.94 percent on the BSE.
Posted by Nasrin Sultana