Conference Reports
26th JP Morgan Annual Healthcare Conference
Conference Centre, 7th-10th January 2008, San Francisco, USA.
The start of 2008 marks an important period for the healthcare industry. Indeed, the impending US presidential elections are dramatically boosting the public profile of healthcare services, and the increasing threat of an economic recession is impacting investor potential within the field. As the chink of new year's champagne glasses subsided, the JP Morgan Annual Healthcare Conference provided an excellent setting to discuss the future of this innovative market.
With 6 parallel streams beginning at 7:30am, the conference kicked off with the hustle, bustle and energy that regular attendees have become accustomed to. Starting the conference on a high note was specialist oncology company Antisoma, which was in the minority of companies benefiting from the weak US economy, reporting a very strong cash position and no requirement to seek financing. Its CEO, Glyn Edwards, provided an update of its lead product ASA-404 following the recent worldwide licensing agreement with Novartis, advising of successful Phase I and II trial results. He also highlighted the potential of AS-1411, its nucleolin- targeted agent for the treatment of solid tumours, going on to report that the company plans to take this compound to market alone.
In the opening days, Cytos Biotechnology and Array BioPharma were both offering compelling pipeline updates. Cytos reported Phase IIb trial plans for its hypertensive vaccine, following promising clinical results which demonstrated significant efficacy in reducing the morning pressor surge, whilst Array publicised worldwide licensing opportunities within its cancer, inflammation and pain portfolio. CSL represented the Australian biotech sector, advising of the upcoming launch of its proline-stabilized immunoglobulin, Privigen, for the treatment of immunodeficiency and thrombocytopenic pupura. The company's charismatic CEO, Dr Brian McNamee, discussed the company's early-stage pipeline, which includes preclinical antibodies for asthma (under development with Merck & Co) and a proprietary reconstituted HDL compound, CSL-111. Reporting a strong financial position, CSL seemed a solid proposition, with its clinical trial strategies highlighting the potential for indication expansion in its key products.
Amongst the big players in the industry, Gilead Sciences reported a very successful 2007, with US and EU approval of Letairis and Atripla, respectively, and the filings of both tenofovir disoproxil fumarate (Viread) for hepatitis-B as well as aztreonam lysine for cystic fibrosis. Reporting on both early- and late-stage assets, Gilead proved that it continues to be one of the powerhouses of HIV research and development, both in regards to sales and in continuing to develop innovative approaches to one of the primary diseases of our time.
The week progressed apace, and amongst the crowded corridors and ballrooms came an abundance of insightful presentations. Sciele Pharma reported the approval of its new 8.5, 17, 25.5 and 34mg formulations of Sular, which it expects to launch in the 1st quarter of 2008 to increase its revenue stream from this product. It also presented expected launch dates of its late-stage pipeline, highlighting an excellent revenue progression until 2011. Barrier Therapeutics followed, providing latestage clinical data and announcing partnership opportunities for its proprietary antifungal compound pramiconazole, which is currently in Phase II trials.
A presentation of particular interest came from Ablynx, a speciality biotech company that utilizes nanobodies - small protein domains derived from immunized llamas. Although relatively new, these compounds offer excellent potential in targeted therapies and have demonstrated positive preclinical results in various models. The company's lead product, ALX-0081, intended for the treatment of acute coronary syndrome and stroke, demonstrated no immunogenicity in Phase I trials and Phase II trials are now scheduled for 2008.
There is no doubt that the economic worries are taking their toll on the investor potential in this key industry, which made the 26th Annual JP Morgan conference an essential investment facilitator for many companies. However, despite the challenges faced in the field, JP Morgan maintained its characteristic charm, with its trademark popcorn and Haagen-Dazs breaks lightening the mood and bringing smiles to the face of many delegates. As 2008 unfolds, with the US presidential race and economic strife sure to have repercussions within the pharmaceutical industry, we look forward to the 27th JP Morgan Annual Healthcare Conference to see what these might be.
The 27th JP Morgan Healthcare Conference will be held in San Francisco, USA, January 2009
Jenna Morris
Pharmaprojects Analyst
