Amid Mounting Concerns Over Victoza Problems, Sales Disappoint
Novo Nordisk reports that first quarter sales for Victoza are up about 80% from last year, but the relatively new diabetes drug failed to beat sales from the prior quarter and disappointed analysts amid mounting concerns over potential problems with Victoza.
In an earnings statement released last week, Novo Nordisk cited Victoza as part of the reason for sales growth of 13% for the company during the first quarter of 2012. However, analysts indicate that sales of Victoza were about 9% under expectations.
Victoza (liraglutide) was just approved by the FDA in January 2010, for the treatment of type 2 diabetes among those who fail to achieve glucose control after trying diet, exercise and other drugs for diabetes.
Did You Know?
Millions of Philips CPAP Machines Recalled
Philips DreamStation, CPAP and BiPAP machines sold in recent years may pose a risk of cancer, lung damage and other injuries.Learn More
The drug quickly grew to become a widely used diabetes medication and analysts expected the growth to continue, as the world-wide roll-out of the drug continues. However, it is possible that sales may be slowing due to mounting concerns over health problems associated with Victoza.
Last month, the consumer advocacy group Public Citizen filed a petition with the FDA calling for a Victoza recall to be issued in the United States, indicating that the potential risk of thyroid cancer, pancreatitis, kidney failure and other problems associated with the medication outweigh the benefits provided over other diabetes treatments.
Since approved by the FDA in 2010, new warnings have been added to the drug’s label about a risk of pancreatitis, thyroid C-cell tumors and worsening renal function associated with use of Victoza.
According to an analysis of the FDA’s Adverse Event Reporting System database by the consumer advocacy group Public Citizen, more than 200 cases of acute pancreatitis and 8 cases of pancreatic cancer, as well as 26 cases of thyroid tumors, were reported by Victoza users between February 2010 through September 2011.
Novo Nordisk has rejected arguments calling for Victoza to be removed from the market, indicating that they do not expect the FDA to act on Public Citizen’s petition and stating that doctors and patients should remain confident in the drug’s safety.
During the short period of time Victoza has been available, it has grown to become one of Novo Nordisk’s best selling medications, generating sales of more than $350 million per quarter.
"*" indicates required fields
More Top Stories
A new report highlights how many women and families feel left out of Camp Lejeune settlement negotiations after suffering repeated miscarriages they say were caused by miscarriages on the North Carolina military base.
A Bard Infuse-A-Port lawsuit claims a piece of a failed port catheter broke off, causing a woman to suffer a pulmonary embolism which has resulted in fragments of the device remaining in her heart.
A Wegovy gastroparesis lawsuit blames the weight loss drug for a stomach paralysis problems which left a woman with permanent injuries.