Plans for New Cancer Drug Help Raise Idec's Estimates

Analysts are tweaking earnings estimates for Idec Pharmaceuticals (IDPH Quote) Tuesday after the biopharmaceutical firm held a conference call Monday night to discuss launch plans for its new cancer drug, Zevalin.

The Food and Drug Administration approved Zevalin on Feb. 20 for the treatment of patients suffering from advanced cases of non-Hodgkins lymphoma. The drug is a new type of cancer fighter -- a monoclonal antibody with an extra kick of radiation attached, which increases its tumor-killing power.

Idec did not give specific sales guidance on its Monday night conference call, but the company did say Zevalin will be sold for about $17,000 for the estimated amount needed for a patient's treatment and that the drug's margins will approach the level of small molecule drugs, which many analysts took to mean a robust 90%. ...