This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

NitroMed Readies for Drug Sales

NitroMed (NTMD) said Monday that its drug for treating congestive heart failure in African-Americans should be available within two to four weeks.

Michael Loberg, the president and CEO, didn't announce a price, but he said the drug BiDil will be "widely available" once the product launch begins. There will be "more than adequate quantities," he said.

Late Thursday after markets had closed, the Food and Drug Administration approved the drug, making it the first medication approved for a specific ethnic group. But the stock of the Lexington, Mass., company was halted Friday by the Nasdaq.

Loberg explained Monday, in a telephone conference call with analysts, that the Nasdaq halted trading because the company was negotiating with the FDA over the product expiration date for BiDil. The drug will have a 12-month expiration.

Since companies routinely manufacture products before getting FDA approval, the expiration-dating issue provoked questions from analysts who wanted to know if NitroMed might have unusable inventory. Loberg repeatedly said there wouldn't be any shortages.

Although BiDil is a patented product, it is a combination of two generic drugs -- hydralazine, for high blood pressure, and isosorbide dinitrate, for chest pains associated with heart disease. When asked by one analyst what the expiration dates were for the individual drugs, Loberg said he was not sure; but he added that he assumed the 12-month BiDil expiration was less than the expiration dates of the individual drugs.

Loberg reaffirmed his company's decision to market BiDil without a partner. NitroMed, which doesn't have any other products, has a 190-member sales force to promote the drug to physicians. "All launch elements are in place," Loberg said.

He said he believes that 85% of the African-American population of heart-failure age have some form of insurance coverage for the drug. The company is developing a patient assistance program for those who cannot afford the drug.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $129.09 0.00%
FB $79.75 0.00%
GOOG $571.34 0.00%
YHOO $44.11 0.00%
TSLA $197.32 0.00%


DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs