Mobic’s blockbuster potential follows COX-2 bad news
Abbott Laboratories reported sales of its NSAID Mobic jumped 176 percent following Merck's withdrawal of Vioxx from the market and news that studies have linked Celebrex and Bextra to heart risk.
Sales of Mobic nearly tripled to $258 million in the fourth quarter of 2004, exceeding most Wall Street estimates by at least $100 million.
Mobic, originally estimated to be a moderate seller, is now expected to achieve blockbuster status with a potential for $1 billion in sales, Abbott said detailing its fourth quarter earnings this week.
The news also is a boon for Germany's Boehringer Ingelheim, which licensed Mobic to Abbott in a co-marketing agreement. The terms of that agreement are slated to change in April, with more Mobic profits going to Boehringer.