Human Genome Sciences CEO On CNBC (HGSI)
Human Genome Sciences (NASDAQ: HGSI) was one of the hottest stocks of 2009, appreciating nearly 1500% during the last year. The reason for the incredible run in HGSI is a very promising lupus drug called Benlysta.
Tom Watkins, Human Genome Sciences (HGSI) CEO, just appeared on CNBC to talk about Benlysta and his company's prospects in 2010. Watkins said that there has not been a new lupus drug brought to market in the last 50 years, but that Benlysta could change that this year. Analysts have speculated that with the development of Benlysta, Human Genome Sciences (HGSI) may be close to a solution in the fight against the disease. Lupus is a chronic autoimmune connective tissue disease that can affect any part of the body. As occurs in other autoimmune diseases, the immune system attacks the body’s cells and tissue, resulting in inflammation and tissue damage.
Watkins indicated that he is hopeful that an application for Benlysta will be filed with the FDA in the first half of this year. He also said that it is conceivable that the drug could be brought to market by late 2010 if the FDA fast tracks Benlysta's approval process. Although Watkins refused to discuss the price point for the drug, there is speculation that treatment may command $30,000 per patient.
Human Genome Sciences (HGSI) has partnered with GlaxoSmithKline (NYSE: GSK) to distribute Benlysta upon FDA approval. Shares of Human Genome Sciences are down 5.45% to $28.77 today on the Nasdaq exchange.
