It seems that Amgen, Inc. (NASDAQ:AMGN) is on the search for a way to boost its biotech stock and triple bottom line, as recently the company filed forms, which are required to expand into the drug treatment for Leukaemia.
The company reported filing a supplement Biologics License Application (sBLA), which is required to be submitted to the U.S Food And Drug Administration in order to implement Blincyto for the treatment of Leukaemia.
Supporting factors which may lead the drug to be approved
The drug itself has shown impressive results throughout its clinical trials, which is a fact that the company was sure to illustrate in its report. The forms filed included details, revolving around the results of Phase III overall survival study.
The company also reported other illustrations, which indicate the drugs efficiency and quality. This includes the Philadelphia test, in which the drug effectively worked on those with Precursor B-Cell ALL. These are patients, who did not recover from the usual means of treatment.
In a statement that the company released regarding the effectiveness of the drug, the company portrayed their excitement over the fact that their drug was able to treat patients, more efficiently than that of the more common Chemotherapy treatments.
Market analytics for Blincyto
The efficiency of the drug does indeed mean that the company will be enabled to greatly help those that are in need of a miracle. However, at the same time, when it comes to keeping the company as one of the best biotech stocks, this drug will be an instrumental product.
This is due to the market opportunity, to which the drug pertains. Most of which is derived from European Union markets. This is because the drug has pre-secured market authorisation for this market.
Blincyto has already illustrated success in its chosen markets, with an increase of up to 32% in sales over the fourth fiscal quarter. Furthermore, it was illustrated that the over-year sales report, illustrated an increase of over 40% in revenue generation.