Immunex Offers Data That Enbrel Has Broader Potential

Immunex (IMNX Quote) released scientific data Sunday that bolsters its plans to expand the use of its rheumatoid arthritis drug, Enbrel.

Attending the annual meeting of the American College of Rheumatology this week, the Seattle-based biopharmaceutical firm is presenting data that show Enbrel to be effective in psoriatic arthritis as well as in ankylosing spondylitis, a type of arthritis that affects the spine and is especially prevalent among teenagers and young adults.

Launched three years ago, Enbrel has quickly become one of biotech's biggest drugs -- sales should reach $750 million this year -- despite well-publicized supply constraints that have restricted growth. But in the past couple of months, Immunex has taken steps to convince Wall Street that it has solved its manufacturing shortfalls. The company is now forecasting Enbrel sales to reach a range of $900 million to $1.3 billion next year. And if the company can get Food and Drug Administration approval to expand the drug's use starting in 2002, sales potentially could double. ...