Ligand's lesson in channel management
New products do not sell themselves to pharmacists any more readily than to physicians. Avinza extended-release morphine from Ligand Pharmaceuticals Inc. is one of only two once-daily opioid compounds marketed in the U.S. to treat chronic pain. However, the company found in its first quarter of promotion that without the proper incentives, pharmacies would not carry Avinza and that patients frustrated at not finding the product could get prescriptions for other drugs.
LGND (San Diego, Calif.) last week announced that it would not meet its projected product revenue estimates for the year of $82-$90 million. A primary reason is that the company, which had assumed $30 million in Avinza sales, now expects only $20 million. Product revenue for 2002 is now projected to be $62.1-$65.6 million...