WASHINGTON (AP) – Several analysts said that they expect significant sales from Tesaro ‘s rolapitant, an experimental treatment for chemotherapy-induced nausea.
The cancer-focused drug developer went public in late June and has no approved drugs or revenue yet.
It is running late-stage trials of its drug rolapitant, which showed promising mid-stage results in reducing nausea and vomiting in patients undergoing chemotherapy.
Citigroup analyst Yaron Weber said the drug could be a “best in class” medication, noting that the only similar drug on the market is Merck & Co.’s Emend which had sales of $419 million in 2011. Weber states that the oral version of Tesaro’s drug could win approval in 2014 and that rolapitant grow into a $425 million product by 2027. Weber initiated coverage of the Waltham, Mass.-based company with a “Buy” rating.
Morgan Stanley’s Marshall Urist said the company’s drug may have longer duration and better nausea control than Merck’s drug. Urist initiated coverage with an “Overweight” rating in an investment note.
Tesaro is also studying two other cancer drugs, though data on their effectiveness is not expected until 2013 or 2014.
Date: July 23, 2012
Source: Associated Press
Filed Under: Drug Discovery
