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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Medivation Prostate Cancer Drug Launches Hot

Stocks in this article: MDVN JNJ DNDN

SAN FRANCISCO ( TheStreet) -- Medivation's (MDVN) marketing partner Astellas reported Xtandi sales of $14 million for the third quarter and forecast $100 million in sales for the newly launched prostate cancer drug through the end of its fiscal year on March 31, 2013.

Xtandi was developed by Medivation but is being sold by the Japanese drug maker Astellas, which reports sales.

Gauging a consensus for early Xtandi sales has been difficult but $14 million in third-quarter revenue is definitely higher than the Street expected given that Astellas only started selling the drug in the middle of September. Assume that a good chunk of third-quarter sales is wholesaler inventory stocking.

The guidance for $100 million in Xtandi sales through March 31, 2013 -- or six months into the drug's launch -- puts the drug on pace to meet Street expectations for the calendar year 2013.

"Taking into consideration potential sales ramp, Astellas' guidance could imply Oct.-Dec. 2012 sales of $30-35 million and Jan.-March 2013 sales of $51-56 million, favorably positioning Xtandi to at least meet expectations including consensus of approximately $225M, which includes estimates in the mid-$300 millions that we believe are bullish for the first-year of launch for any product," writes Jefferies analyst Biren Amin.

FDA approved Xtandi in August for the post-chemo treatment of men with advanced prostate cancer. In this setting, Xtandi competes mainly with Johnson & Johnson's (JNJ) Zytiga. Both drugs, however, are expected to eventually garner most of their sales in the larger and more lucrative pre-chemo prostate cancer setting, where they also threaten to replace Dendreon's (DNDN) Provenge.

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here: Adam Feuerstein.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Follow TheStreet on Twitter and become a fan on Facebook.

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.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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