Crestor loses market share following AHA journal article
AstraZeneca's Crestor lost U.S. market share following the publication of a negative report in the journal of the American Heart Association, Circulation, according to figures cited by brokers this week.
Crestor's new prescription market share fell to 6.1 percent from 6.6 percent in the week ending May 27 and to 5.8 percent in the following week, London-based Code Securities investment banking house analyst Paul Diggle told Reuters.
"If U.S. market share remains below 6 percent, management will face a dilemma deciding whether to continue the very high level of
Crestor promotional support or to ease back spending to protect financial performance," Diggle said in a investors note where he rated the stock to "underperform." Circulation published a critical review on Crestor in its May 23 issue. The article said Crestor had twice as many side effects, including deaths, of rival statin drugs.