Citi Comments On FRX Core Product And Pricing Trends

In its core product and pricing trends for the week ending 3-4-11, Citi is focusing on the following Forest Laboratories, Inc. FRX products:

Lexapro: “~$2.82B Annual Run Rate Implied by 4-Week Average TRx's vs. Our FY'11E US Sales of $2.28B,” Citi writes. “Lexapro posted wkly NRx/TRx of 232,955 (+4%)/577,776(+4%), with SSRI+SNRI market share of 13.7% (-29bps seq) / 14.2% (-35bps seq). Rolling 4week/12week NRx growth rates were -4%/-7% & TRx growth rates were -3%/-5%. Lexapro 5mg/10mg/20mg tabs are priced at a WAC of $2.98/$3.11/$3.25/day. Lexapro loses exclusivity in March 2012.”

Namenda: “~$1.59B Annual Run Rate Implied by 4-Wk Avg TRx's vs. Our FY'11E US Sales of $1.27B,” Citi writes. “Namenda posted wkly NRx/TRx's of 54,295(+4%)/ 178,229(+4%), with Alzheimer's-related dementia market share of 35.6%(-199bps seq)/32.4% (-194 bps seq). Rolling 4wk/12wk NRx growth rates were +6%/+5% & TRx growth rates were +8%/+6%. Namenda 5/10mg are priced at $5.89/day. Namenda loses exclusivity on 4/11/15. We expect Namenda XR to launch FY ‘13.”

Bystolic: “$320M Annual Run Rate Implied by 4-Week Average TRx's vs. Our FY'11E US Sales of $266M,” Citi writes. “Bystolic wkly NRx/TRx was 48,618(+4%seq.)/ 128,444(+4%), with beta blocker market share of 4.4%(-8bps seq)/4.0%(-9bps seq). Rolling 4wk/12wk NRx growth rates were +44%/+45% & TRx growth rates were +52%/+53%. Bystolic 2.5/5/10mg tabs are flat priced at a WAC of $1.74/day.”

Savella: “~$50M Annual Run Rate Implied by 4-Week Average TRx's vs. Our FY'11E US Sales of ~$94M,” Citi writes. “Savella weekly NRx's/TRx's were 9,985 (+9%seq.) /19,874 (+9%), and rolling 4week/12week NRx growth rates were +22%/+24% & TRx growth rates were +45%/+49%. Savella 12.5/25/50/100mg tablets are flat priced at $3.72/day. Teflaro (ceftaroline): 400/600mg vials were launched into U.S. hospitals on 1/3/11. Teflaro is flat priced at a WAC of $40.59/vial (~$81 per day).”

Forest Laboratories closed Monday at $31.58.