Boston, MA 05/12/2014 (wallstreetpr) – Medivation, Inc. (NASDAQ:MDVN) provided its corporate updates and reported the financial results for the first quarter of the year 2014. The U.S. net sale for XTANDI was estimated to be $124.5 million for this quarter as compared to $47.8 million for the ex-U.S. sales. The company is pleased by its financial results for this quarter and outstanding sales performance of XTANDI in the United States as well as worldwide. XTANDI has been approved by more than 40 countries and is being used there for the patients with mCRPC. The President and CEO of MDVN also said that the company is looking forward to identifying new therapies which will improve the present standard of cure.
XTANDI accepted in Europe
XTANDI was also approved by the United States Food and Drug Administration (FDA) for patients with mCRPC. The patients who have previously received docetaxel in 2012, XTANDI was made available to them. XTANDI was also granted marketing authorization in Europe in the year 2013. Outside the U.S., Astellas is responsible for the development and commercialization of XTANDI.
Approval from Japan
An approval from the Japanese government was also received for the use of XTANDI for patients suffering from this particular cancer. The Japanese government also provided Medivation, Inc. (NASDAQ:MDVN) with a grand milestone payment of $15 million during this quarter. For men who have not yet received chemotherapy, FDA accepted the supplemental New Drug Application (sNDA) as an extension of XTANDI. This triggered the milestone payment of $25 million for MDVN in collaboration with Astellas.
Added highlights
Some other highlights for the first quarter of the year 2014 included the continued patient enrollment for Enzalutamide clinical development program. The number rose up to 1500 patients with non metastatic CPRC. The Phase 2 enrollment for clinical trial of Enzalutamide for women with advanced breast cancer also continued in two parallel cohorts comprising of 120 patients each.
