Worse-Than-Expected Xtandi Sales Hitting Shares of Medivation; William Blair Comments on Miss

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Sales of Astellas prostate cancer drug Xtandi were reported at $82 million within the US earlier, bringing down shares of Medivation
MDVN
Thursday morning. An analyst at William Blair issued a note this morning highlighting the result for Xtandi as lower than the firm's estimates for both the United States and E.U. region. The William Blair analyst was looking for $85.2 million in Xtandi sales for the quarter. Xtandi's sales in Europe were approximately $2.6 million for 2Q, nearly half of William Blair's $4.8 estimate. Astellas guided sales of Xtandi for FY2013 for approximately $400 million versus the $459 million William Blair estimate. Shares of Medivation dropped over 4 percent at the open, but have regained ground and are trading down about 1 percent at last check.
Posted In: Analyst ColorNewsAnalyst Ratings
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