Eliquis

Drug name: Eliquis
Companies: Bristol-Myers Squibb and Pfizer
Use: Anticoagulant
Amount spent on doctor payments: $8 million

The third entrant into the warfarin replacement market, Eliquis got off to a slow start in 2013. Before its launch, the drug was projected to bring $3 billion a year. However, as other products beat it to the market, analysts lowered Eliquis sales expectations; one October 2013 sales estimate slashed 60% off of the drug's prior-year expectations. To rejuvenate sales, BMS ($BMY) and Pfizer ($PFE) devoted increased resources to U.S. DTC advertising and strengthened its sales force worldwide. In Q2 2014, the drug brought in $171 million--more than 13 times as much as the same period the year before. The trend continued in the third quarter, with Eliquis revenues--which BMS splits evenly with Pfizer--reported at $216 million. At the JP Morgan Healthcare Conference earlier this month, incoming BMS CEO Dr. Giovanni Caforio reported that the drug is the No. 1 agent in the U.S. in new cardiology brand-to-brand prescriptions. BMS and Pfizer, along with competitors, have spent $20 million in speaker programs for next-gen anticoagulants, each attempting to demonstrate to doctors their products' safety and efficacy advantages versus the competition. BMS and Pfizer spent $8 million on doctor payments to market the drug in 2014. -- Eric Sagonowsky (email)

For more:
JPM: Glaxo ready to shift off Advair; BMS isn't afraid of Merck; Roche eyes combos and M&A
How much for docs speaking on Eliquis, Xarelto and Pradaxa? $20M and counting
BMS, Pfizer pull out all the stops to give Eliquis sales a Q2 jolt

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Eliquis