BOTHELL – ICOS Corp. and its pharmaceutical partner reported record sales of Cialis during the fourth quarter, pushing the erectile dysfunction drug’s total sales during 2006 to $971 million.
Lilly ICOS LLC, which is equally owned by Bothell-based ICOS and Eli Lilly and Co., said last quarter’s sales of Cialis rose to $269 million, compared with $211 million in the same period last year. That pushed the joint venture’s profit up by 62 percent to $99.9 million.
For the full year, the joint venture earned $320 million compared with $38 million in 2005.
Cialis, the world’s No. 2 impotence drug after Viagra, now holds 27 percent of the market in the U.S., Lilly ICOS reported. It’s expected to generate more than $1 billion in sales this year.
Which is the primary reason Lilly is offering $2.3 billion, or $34 a share, to acquire ICOS. Shareholders are expected to vote on the offer, which has raised controversy among some shareholders, next week.
Lilly and ICOS have partnered for years to develop and market Cialis. By buying ICOS, Lilly can retain all of the drug’s revenues for itself.
In December, Lilly ICOS submitted an application to the Food and Drug Administration for a once-a-day version of Cialis, and the drug’s active ingredient also is being tested as a potential treatment for a common prostate problem and pulmonary arterial hypertension.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
