Managing Director Michael Sansoterra of Silvant Capital Management says Pharmacyclics, Inc. (PCYC) is an interesting company not properly reflected in the market. He says the company’s key drug, IMBRUVICA, may provide PCYC tremendous growth opportunity.
“[IMBRUVICA is] an oral pill, and it works on a type of non-Hodgkin lymphoma, which is cancer, white blood and bone marrow cancer. There are other products on the market that have tried to attempt to treat this version of cancer,” Sansoterra said.
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While Gilead has a drug awaiting approval, Sansoterra says Pharmacyclics’ drug has had better efficacy rates. Currently IMBRUVICA sales in the U.S. are around $350 to $400 million, but Sansoterra believes sales could be closer to $1 billion by 2016, and even double that at peak sales.
“This is a company that can probably be north of three or four times its current size over the years if things go well,” Sansoterra said. “There will be other competing drugs, but we think in the meantime this is one that is a little bit off the radar of some folks, and we think the earnings power here is quite large.”
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