The FDA Approved a New Drug to Prevent Blood Clots [Fortune]
PORTOLA PHARMACEUTICALS (PTLA)
Last portola pharmaceuticals earnings: 2/26 04:01 pm
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Source: Fortune
The U.S. Food and Drug Administration on Friday approved a new oral blood-thinner made by Portola Pharmaceuticals to prevent deep vein thrombosis and pulmonary embolisms in acutely ill patients who are not undergoing surgery. The drug, BevyxXa, known also as betrixaban, is the first oral treatment and first extended duration treatment for this patient population, the company said. Roughly 200,000 patients in the United States develop deep vein thrombosis each year and about 40,000 of these patients die of pulmonary embolism, caused when a blood clot breaks loose and travels to the lungs, blocking blood flow, the company said. Analysts on average expect the drug to generate sales of $313 million by 2020, rising to more than $1 billion by 2023, according to Thomson Reuters data. Portola's stock was halted at $38.44 pending the news. BevyxXa will compete in the hospital setting with the injectible medications heparin and Sanofi SA's Lovenox, which are typically used for short d
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