WASHINGTON (dpa-AFX) - Human Genome Sciences Inc. (HGSI) said it would announce its priority goals for 2012 and report on progress with the commercialization of BENLYSTA, the first approved drug for systemic lupus in 56 years, during a presentation this afternoon by Thomas Watkins, President and Chief Executive, to financial analysts and investors at the 30th Annual JPMorgan Healthcare Conference in San Francisco.
BENLYSTA was approved on March 9, 2011 by the FDA for the treatment of adult patients with active, autoantibody-positive systemic lupus erythematosus who are receiving standard therapy. Estimated BENLYSTA gross sales amounted to $29.1 million in the fourth quarter of 2011, whereas estimated BENLYSTA gross sales for the year ended December 31, 2011, reflecting three full quarters on the market, totaled $59.2 million.
Watkins, at the time of his presentation, would discuss its key goals for 2012 like to continue to increase sales in the U.S. and elsewhere; continue to work with GSK to introduce BENLYSTA in countries around the world; enroll Phase 3 trial of subcutaneous formulation throughout 2012; complete enrollment in 2013, Initiate Phase 3 trial in vasculitis, Phase 3 trial in active lupus nephritis and enroll Phase 3 trial in East Asia.
In addition, HGS anticipates cash and investments at year-end 2011 to total between about $875 million and $885 million. Commenting on the key expenses, the company expects R&D expense between nearly $195 million and $205 million in 2011, and between some $150 million and $180 million in 2012; as well as SG&A expense in range of about $155 million and $165 million in 2011, and between approximately $160 million and $180 million in 2012.
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