Shares of Eyetech Pharmaceuticals(EYET Quote) were among the best-performing health-related stocks Wednesday, rising 3.5% after the company lifted its sales estimate for Macugen, a treatment for age-related macular degeneration.
The company now expects sales of $175 million to $190 million, up substantially from its previous guidance of $135 million to $150 million. "Macugen's launch has exceeded our initial expectations and we are pleased that Macugen is quickly establishing itself as a foundation therapy for neovascular AMD," the company said.
The company added that the larger and more frequent reorders signify that retinal specialists are adopting Macugen even faster than the company had anticipated. Shares traded up 45 cents to $13.44. ...
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