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Eyetech announces revised revenue expectations, outlook for future
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NEW YORK — Macugen had one of the most successful launches in the ophthalmic industry and is on track to be in the top 10% of biotech and pharmaceutical launches of the past 20 years, according to David R. Guyer, MD, chief executive officer of Eyetech.
Dr. Guyer and other officials of Eyetech Pharmaceuticals, the maker of Macugen (pegaptanib sodium injection), presented details about the Macugen franchise and new therapies in the company’s pipeline here at an event called Eyetech Vision Day.
Macugen is an anti-vascular endothelial growth factor (VEGF) therapy indicated for the treatment of all subtypes of neovascular age-related macular degeneration.
Revising the company’s guidance on Macugen sales upward to $175 to $190 million through the end of 2005 from an initial guidance of $135 to $150 million, Dr. Guyer noted that the new expectations reflect the positive nature of the launch.
“Since the announcement of the Genentech data a month ago, our sales are actually stronger than they had been because [the data] have really given us an opportunity to underscore the point that anti-VEGF therapy is the present and future best hope for patients with wet AMD,” said Paul G. Chaney, Eyetech’s chief operating officer. “And it will today and into the future be the foundation and essential therapy for all patients who are hoping to preserve vision.”
Near-term goals for the Macugen franchise include ongoing clinical trials for diabetic macular edema (DME), diabetic retinopathy and retinal vein occlusion indications, said Anthony P. Adamis, MD, Eyetech’s executive vice president of research and development and chief scientific officer. Eyetech is also investigating combination therapy with Macugen and other agents, as well as enhanced delivery systems for the drug.
“In both diabetic retinopathy and retinal vein occlusion, the science is very compelling that VEGF is involved,” Dr. Adamis said.
Macugen for the treatment of DME is the indication that is nearest to completing investigation, he said. Macugen for DME will enter phase 3 clinical trials in mid-2005.
Dr. Adamis reviewed some of the results of the phase 2 trial of Macugen for DME, which were announced earlier this year at the meeting of the Association for Research in Vision and Ophthalmology.