Auxilium Pharmaceuticals Inc., of Chesterbrook, Pa., lowered its full-year 2014 financial guidance, projecting revenues of $380 million to $420 million, reduced from $450 million to $490 million, due primarily to lower-than-expected revenues from Testim (testosterone gel). Although Auxilium will not disclose complete financial results until May 5, the company said it expects to record global first quarter Testim revenues of approximately $11 million to $13 million, compared to $45.5 million in the first quarter of 2013, and full-year 2014 Testim sales of less than $85 million. Auxilium attributed the unexpected decline to a number of factors, including a shrinking testosterone replacement therapy (TRT) gel market and lower Testim market share, downward pressure on prescriptions in the TRT gel market following the FDA's disclosure that it plans to study the safety of TRT products, articles in medical journals suggesting potential health risks associated with TRT products, advertisement by plaintiffs' attorneys about litigation against companies that market TRT products and the commencement of such litigation against certain companies, including Auxilium. The change in the company's guidance drove shares (NASDAQ:AUXL) down 17.7 percent, declining $4.85 to close at $22.51 on Wednesday.