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Spectrum Pharma: Fusilev Drug Sales Smash Record in June

HENDERSON, Nev. ( TheStreet) -- Spectrum Pharmaceuticals' (SPPI - Get Report) colon cancer drug Fusilev could report a mega-blowout quarter.

Fusilev sales totaled $49.7 million in June, according to monthly sales data from Wolters Kluwer released late Tuesday.

That means in June alone, Spectrum sold almost as much Fusilev as the $51 million recorded in the entire first quarter.

Spectrum won't announce second-quarter results until July 30, but Fusilev sales could top $90 million based on Wolters Kluwer monthly sales data, which have so far tracked accurately with actual, end-of-quarter reported sales.

Fusilev sales totaled $24.8 million in May and $22.3 million in April, according to Wolters Kluwer.

Spectrum continues to benefit from a shortage of generic leucovorin but now it seems doctors, particularly those in large oncology group practices, have turned to Fusilev as a permanent replacement for their colon cancer treatment regimens.

The predicted reversal in Fusilev sales growth has not materialized, even with leucovorin supply shortfalls easing somewhat. Instead, Fusilev sales continue to grow month over month with no sign of stopping.

Spectrum shares closed Tuesday at $15.63.

--Written by Adam Feuerstein in Boston.

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Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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