NitroMed Distributing Heart Drug
Shares of NitroMed
The drug was approved by the Food and Drug Administration June 23 for treating African-Americans, the first instance of a drug being approved for a specific ethnic group.
NitroMed advanced $2.34, or 12%, to $21.79 late Friday afternoon on trading volume that was eight times greater than the average daily volume for the past three months. BiDil will be priced at a wholesale acquisition cost of $1.80 per tablet and supplied to pharmacists in bottles of 180 tablets. NitroMed expects that BiDil samples will be available in doctors' offices next week and available in pharmacies during the following week.
The FDA approved the drug based primarily on a clinical trial showing that BiDil had a significant beneficial effect on African-Americans with congestive heart failure. Previous clinical trials involving a more diverse population were inconclusive.The suggested price exceeds what some analysts had forecast. Patients will start by taking one pill three times a day; if necessary, they could take two pills three times a day, according to the BiDil prescribing instructions. Citing information from the federal Centers for Disease Control and Prevention, NitroMed says African-Americans between the ages of 45 and 64 are 2.5 times more likely to die from heart failure than Caucasians in the same age range. BiDil is a combination of two generic drugs -- hydralazine, for high blood pressure, and isosorbide dinitrate, for chest pains associated with heart disease. Neither of the components alone has been approved for treating heart failure.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV