Bio-Technology General Corp. Launches 10mg Oxandrin Tablet; More Convenient Dosage Anticipated to Drive Patient Compliance and Market Share Growth.
ISELIN, N.J.--(BUSINESS WIRE)--Oct. 22, 2002
Bio-Technology General Corp. (NASDAQ:BTGC) today announced the launch of its new 10mg Oxandrin(R) tablet for the treatment of involuntary weight loss.
The new tablet strength, which allows patients taking 20mg a day, the most common dosage, to convert from eight 2.5 mg tablets to one 10mg tablet twice daily, is expected to improve patient compliance and drive market share growth. Since introducing the product in December 1995, the Company has grown Oxandrin sales to over $47 million in 2001.
As previously announced, Oxandrin prescriptions for the three and nine months ended September 30, 2002 grew 35% and 18%, respectively, over the comparable periods of 2001. Prescription growth from the second to the third quarter of 2002 was 12%. Retail prescriptions, representing approximately 60% of the total, grew 22% in the first nine months of 2002, compared to the same period in 2001, whereas prescriptions in the long-term care sector grew 18%.
Sales of Oxandrin have recently been driven by several new initiatives, such as the 2002 sales force expansion and the 2000 long-term care partnership with Ross Products Division, Abbott Laboratories.
"By providing users with a more convenient 10mg Oxandrin tablet, we believe we can help improve patient compliance and treatment outcomes, as well as drive market share growth," stated Sim Fass, Chairman and Chief Executive Officer of Bio-Technology General Corp. "The introduction of our 10mg Oxandrin tablet coincides with a new marketing thrust and focus on those therapeutic sectors where we can offer a competitive alternative to other less effective or more expensive products currently used to combat involuntary weight loss. These sectors include patients with cancer, chronic obstructive pulmonary disease, trauma, and non-healing wounds."
Commenting on the potential cost savings associated with the availability of the 10mg tablet, Sim Fass concluded, "The 10mg Oxandrin tablet will be sold directly to wholesalers, which will reduce the Company's distribution cost."
Oxandrin is the only oral anabolic agent approved by the FDA as adjunctive therapy to promote weight gain after weight loss following extensive surgery, chronic infections, or severe trauma, and in some patients who without definite pathophysiologic reasons fail to gain or to maintain normal weight. Oxandrin is now available in both 2.5mg and 10mg strengths.
Bio-Technology General Corp. develops, manufactures and markets genetically engineered and other products for human health care. BTG's products are marketed worldwide. Products sold in the United States are Oxandrin(R) (oxandrolone, USP), marketed by BTG and by the Ross Products Division of Abbott Laboratories under a co-marketing agreement, Delatestryl(R) (testosterone enanthate), marketed by BTG, Mircette(R) (oral contraceptive), marketed by Organon, Inc., and BioLon(TM) (sodium hyaluronate), marketed by Akorn, Inc. Products sold internationally are Bio-Tropin(TM) (recombinant human growth hormone), BioLon(TM) (sodium hyaluronate), Bio-Hep-B(TM) (hepatitis B vaccine), Silkis(R) (vitamin D derivative), Arthrease(TM) (sodium hyaluronate for osteoarthritis), and recombinant human insulin. BTG's news releases and other information are available on the Company's website at www.btgc.com.
Arthrease is a trademark of DePuy Orthopaedics, Inc., Mircette is a registered trademark of Organon, Inc., Silkis is a registered trademark of Galderma.
Statements in this news release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.
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|Date:||Oct 22, 2002|
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