On Jan 9th Portola announced that Q4 sales of Andexxa fell to $28 million (from $33m in Q3) and that full year sales revenues for the drug are likely to come in at $111m. What is the reason for the many teething problems, and why has the stock price collapsed?
Many people - myself included, when I recommended Portola in an article back in October - thought the company had a blockbuster on its hands. Portola bulls must be hugely frustrated by falling sales of the company's flagship drug - coagulation factor Xa (recombinant) Andexxa.
Editor's note: This article was amended on to fix an error in a product's description.
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