Medivation (MDVN) Says Astellas Becomes Positive on XTANDI U.S. Sales

February 1, 2013 6:50 AM EST
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On February 1, 2013 in Tokyo, Japan (January 31, 2013 in San Francisco, CA), Medivation, Inc.’s (Nasdaq: MDVN) alliance partner, Astellas Pharma Inc., reported its financial results for its third fiscal quarter ended December 31, 2012.

Astellas reported, among other things, that net quarterly sales of XTANDI (enzalutamide) capsules in the U.S., representing the first full quarter of U.S. XTANDI sales, were approximately $57 million. On November 1, 2012, in accordance with Tokyo Stock Exchange rules, Astellas provided guidance on anticipated net sales of XTANDI in the U.S. for its fiscal year ending March 31, 2013, which guidance was approximately $100 million. Based on the strong XTANDI sales performance in the quarter, Astellas now expects to exceed the estimated net sales provided in that guidance, but has not provided a specific estimate. Astellas’ guidance with respect to future net sales of XTANDI is a forward-looking statement that involves a number of risks and uncertainties, many of which are outside of Astellas’ control, including the degree of market acceptance of XTANDI, that could cause actual results to differ materially from projected results.

Medivation is providing this information, which is taken directly from Astellas’ public announcement, solely for the purpose of providing all of Medivation’s investors with equal access to this third-party information. By providing this information from Astellas, Medivation does not in any way endorse or adopt these numbers or projections. Medivation is not providing any guidance regarding future sales of XTANDI and makes no comment regarding Astellas’ guidance with respect to future net sales of XTANDI.

Medivation plans to report its own financial results for the quarter and year ended December 31, 2012 on February 28, 2013.

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