Crestor loses market share following AHA journal article

Share this 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.

Share this article:

Email Newsletters

More in Business Briefs

Penn and Teller give take on vaccines

The Las Vegas twosome give the anti-vaccination movement their signature treatment.

GSK allegations build in Jordan and Lebanon

GlaxoSmithKline says it is investigating allegations of employee misconduct. The company said in a statement that the allegations have numbers "very similar to those reported by other companies in our sector."

Generic Celebrex is coming

Pfizer and Teva's settlement puts generic Celebrex on the market by December.