Centocor Inc. said Germany and the United Kingdom onWednesday granted marketing approval for sales of Centoxin totreat sepsis and septic shock.
Centocor stock (NASDAQ:CNTO) on Wednesday rose $3.50 on thenews, closing at $67.25.
Gram-negative sepsis can lead to septic shock, which ismarked by heart, liver and respiratory failure, and severeinternal bleeding. The condition is caused when bacterianormally present in the gut are spilled into the body by surgeryor injury. Up to 75 percent of patients die with conventionaltreatment.
There are about 500,000 possible cases of sepsis annually inEurope, said Joseph Edelman, a biotechnology analyst atPrudential Bache in New York. Edelman expects rapid marketpenetration by septic shock products because there are nocompeting treatments. He estimates $255 million in totalCentoxin sales in 1992 and earnings for the Malvern, Pa.,company of $2.05 per share.
Centoxin, a monoclonal antibody derived from a human B cell,earlier this month received marketing approval in theNetherlands. Centoxin has not yet been scheduled for U.S.review by the Food and Drug Administration, although many onWall Street expect that the drug, along with Xoma Corp.'scompeting E5 product, will be reviewed in July.
Xoma (NASDAQ:XOMA) closed up 25 cents Wednesday at $27.50.
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