This Day On The Street
Continue to site
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

NitroMed Distributing Heart Drug

Shares of NitroMed (NTMD) jumped Friday after the Lexington, Mass., company began distributing its congestive heart failure drug BiDil.

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.

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $118.03 -0.71%
FB $105.41 -0.31%
GOOG $748.15 -0.02%
TSLA $229.64 5.22%
YHOO $33.16 0.61%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs