Last week drug developer Flamel Technologies
When Flamel releases its second- and third-quarter financial results later in the year, we'll have a much better idea of how the Coreg CR launch is ramping up, since it will take GSK several weeks to see how the compound's sales are shaping up relative to the immediate release version of the drug. There is a lot of variability in sales estimates for Coreg CR, with analysts predicting anywhere from a 10% to 60% conversion rate from the $1.5 billion-a-year immediate release version to the controlled release version of Coreg.
While not directly comparable, other compounds like Sanofi-Aventis'
It's also next to impossible to value shares of Flamel based on anything but its reported pipeline and marketed products, even though Flamel's management talks about its undisclosed partnership projects all the time. With shares of Flamel valued at a $700 million market capitalization and its reported drug pipeline consisting of several compounds like its insulin and hepatitis drug candidates, Flamel is dependent on Coreg CR royalties ramping up significantly over the coming year to justify this sort of valuation.