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Financial Markets Research: Endo Pharmaceuticals’ Lidoderm

Physician survey indicates increased use likely to fuel above-consensus sales growth

Publication Date   August 2006
Publisher   Datamonitor
Product Type   Strategic Report
Pages   18
ISBN Number   not applicable
Product Code   DAT545
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Price £2,195.00

approximately: $4,347 | €2,790

Summary


Introduction

Surveyed physicians expect to continue to increase their use of Lidoderm in post-herpetic neuralgia and a variety of off-label pain conditions with use varying by specialty.The largest barriers to use of Lidoderm are price and reimbursement but some physicians believe the situation is improving.Near-term competitive threats are not expected to substantially derail Lidoderm's growth rate.

Scope

  • Understand the commercial potential for Endo Pharmaceutical's Lidoderm based on a multi-specialty physician survey
  • Anticipate likely changes in the future market dynamics for pain therapies following the likely success of Lidoderm

Content


  • Physician survey indicates increased use of Lidoderm likely to fuel above-consensus sales growth
  • Endo Pharmaceuticals
  • Overview
  • Lidoderm is the only topical lidocaine patch available in the US
  • Lidoderm is FDA-approved in post-herpetic neuralgia but has data in other pain indications
  • Five years post-launch, Lidoderm sales are still showing strong growth
  • Physician Survey Background
  • Pain specialists are the highest prescribers of Lidoderm
  • Use Of Lidoderm
  • Indication and specialty
  • Physicians report increasing use of Lidoderm on- and off-label
  • All surveyed physician types expect to prescribe greater volumes of Lidoderm
  • Lidoderm continues to penetrate approved indication and low back pain, its largest off-label condition
  • In PHN, pain specialists have leveled off use at 60% of patients, while other specialists predict increases
  • Lidoderm share of low back pain market expected to expand across all physician types
  • Drivers Of Lidoderm's Growth
  • Survey results indicate Lidoderm growth fueled by both new and existing prescribers
  • Growing physician familiarity and appreciation of benign safety profile drive use
  • Increased marketing and publication of off-label data also spur growth
  • Lidoderm detailing has become more frequent, especially for neurologists
  • Price and reimbursement barriers exist, but some physicians report improvements
  • Pfizer's Lyrica, a recent entrant to pain market poses little competitive threat
  • Efficacy results from ongoing low back pain trial likely to only be moderately important
  • Lidoderm Forecast
  • We forecast sustainable growth, ahead-of-consensus sales
  • Appendix
    • Datamonitor Healthcare
    • Disclosure information
    • Ask the analyst
  • List of Tables
    • Table 1: Post-marketing data released on Lidoderm in chronic pain conditions
    • Table 2: Historic Lidoderm sales 1999-2005
    • Table 3: Breakdown of surveyed physicians by specialty
    • Figure 1: Average number of prescriptions per month of Lidoderm by indication
    • Figure 2: Average number of prescriptions per month of Lidoderm by physician specialty
    • Table 4: Average penetration of Lidoderm in PHN according to time and physician specialty
    • Table 5: Average penetration of Lidoderm in low back pain according to time and physician specialty
    • Figure 3: Impact of treatment settings on sales growth on a scale of 1 to 5, where 1 = no impact, 5= strong impact
    • Figure 4: Most commonly identified factors behind Lidoderm sales growth (percentage of physicians)
    • Figure 5: Physician expectation of the impact of Lyrica on Lidoderm use (percent of physicians)
    • Figure 6: Physician expectation of the impact that negative trial results from ongoing Phase II low back pain trial would have on Lidoderm use (percentage of physicians)
    • Table 6: US Lidoderm sales forecast 2006-2008