NEW YORK, July 28, 2011 /PRNewswire/ -- A study published by ITG this week revealed that U.S. oncologists expect Amgen's (NASDAQ: AMGN) recently approved XGEVA (denosumab) to become the top-prescribed drug over the next year for the prevention of skeletal-related events (SREs) in prostate cancer patients. Furthermore, although Novartis' (NYSE: NVS) Zometa (zoledronic acid) will likely remain the top-prescribed drug for preventing SREs in breast and lung cancer patients, physicians in the study believe XGEVA's share will more than double for these indications over the next 12 months.
"Currently, Zometa maintains a dominant position in preventing skeletal-related events in prostate, breast, and lung cancer patients, but our data clearly show that XGEVA has already obtained significant penetration in the market. Assuming physicians and patients continue to be happy with XGEVA, the product is on track to meet pre-launch expectations and become the top-prescribed drug in this class within the next few years," said Hannah Slater, lead researcher on the study.
The report, entitled Event Pulse: Launch of XGEVA, explores how the launch of Amgen's XGEVA is transforming prescribing U.S. physician practices in preventing and treating SREs in cancer patients with solid tumors. The study shows that physicians in ITG's Oncology Panel are already prescribing XGEVA for more than 10% of their prostate, breast, and lung cancer patients who have bone metastases. Physicians in the panel did acknowledge XGEVA's relatively high cost and also expressed concerns about risks associated with osteonecrosis of the jaw, but they generally expressed enthusiasm for XGEVA's increased efficacy, its subcutaneous route of administration, and its convenient dosing. Not only do they plan to initiate more patients on XGEVA as a first-line therapy, physicians also expect to switch a significant number of patients from Zometa to XGEVA over the next year.
Amgen's denosumab first received approval for the treatment of osteoporosis in June 2010 under the trade name, Prolia, and it received approval for a second indication in November 2010 under the trade name, XGEVA, for the prevention of SREs in patients with bone metastases from solid tumors. Amgen has since submitted a supplemental Biologics License Application (sBLA) to the FDA to further expand the indication for XGEVA to treat men with castrate-resistant prostate cancer to reduce the risk of developing bone metastases. If approved, XGEVA would be the first therapy licensed to prevent or delay the spread of cancer to the bone.
Event Pulse: Launch of XGEVA includes analysis of a targeted survey of 50 oncologists and 50 urologists, and 10 in-depth telephone interviews with pharmacy directors at major managed care organizations. Conducted from June to July 2011, the report provides an in-depth look at how the launch of XGEVA will impact the treatment paradigm among competing agents in the prevention of SREs in the prostate, breast, and lung cancer markets. The study also examines the reimbursement climate for existing and anticipated SRE-prevention therapies.
About Event Pulse
Event Pulse is a syndicated report series that evaluates the impact of market events on physician treatment practices. These report series provide information on how changes such as new products, data, or guidelines fit into the treatment algorithm, impact current therapies and change market dynamics.
About ITG Majestic Market Research
ITG's Majestic Market Research is the primary market research offering of ITG (NYSE: ITG), an independent agency brokerage firm founded in 1987. Since 2002, ITG has revolutionized the research business with its differentiated research platform based upon leveraging large amounts of statistically relevant, real-time data.
Majestic Market Research delivers the highest quality healthcare market intelligence quickly – combining survey results with empirical data to deliver innovative syndicated and custom reporting. Our cutting edge market research capabilities enable us to provide clients with the insights and clarity they need to make informed business decisions.
To learn more about ITG's Majestic Market Research products, please contact Christina Brown, Vice President of Healthcare Sales at: 646.584.6061, [email protected], or visit our website: http://www.itg.com/offerings/research/market-research.
ITG Media Contact:
© 2011 Investment Technology Group, Inc. All rights reserved. Not to be reproduced or retransmitted without permission. Any unauthorized usage or transmission is strictly prohibited. Investment research and market research products and services are offered by ITG Investment Research, Inc., and not ITG Inc. (a FINRA Member firm and SIPC Member). ITG, the ITG logo, and ITG Investment Research are trademarks of Investment Technology Group, Inc. and its subsidiaries. All other trademarks, service marks, logos, and trade names are owned by their respective owners.
Any opinions, claims, forecasts or estimates in this marketing material are subject to risks, uncertainties and assumptions and there can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates.