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PharmaEngine shares rise on new drug approval

Source: Taiwantrade | Updated: 11 December 2015

PharmaEngine Inc. shares rose by the 10 percent daily limit earlier last month with the announcement of the company gaining approval for its new pancreatic cancer drug, Onivyde.


According a report by Taipei Times, Onivyde is expected to yield an 88-fold return on investment, in a US$2 billion potential global market.


The Taipei-based PharmaEngine is eligible to receive up to US$266.5 million in royalties for its initial investment of US$3 million in Onivyde in 2003.


Onivyde was introduced to the US market last month and it is expected to be introduced to Taiwan in the first quarter of 2016.


Onivyde is priced at around US$1,620 per dose in the United States.


With an average four-month regimen, in which a patient takes one dose every two weeks, a course of treatment costs between US$11,200, and US$43,000 annually.


The drug is to rival chemotherapy treatments such as Eli Lilly & Co’s Gemzar, which has a global market of US$2 billion; Roche Holding AG’s Tarceva, with a market of US$400 million; and Celgene Corp’s Abraxane, with a market of US$850 million. Patents for the three competing drugs expired last year.


Source: Taipei Times
Hsueh Chen Lee (sl2@taitra.org.tw)

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