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Ventavis Sales Increase 30 Percent Over Previous Quarter
SOUTH SAN FRANCISCO, Calif., Jan. 19 /PRNewswire-FirstCall/ -- CoTherix,
Inc. (Nasdaq: CTRX) today announced that preliminary net product sales of
Ventavis(R)(iloprost) Inhalation Solution in the fourth quarter of 2005
totaled approximately $11.0 million, up 30 percent from $8.4 million in the
third quarter of 2005. Preliminary 2005 net product sales for Ventavis,
which was launched in March 2005, were approximately $23.9 million.
Ventavis is indicated for the treatment of pulmonary arterial hypertension
(PAH) in patients with New York Heart Association Class III or IV symptoms
(World Health Organization Group I).
The company currently estimates that Ventavis net product sales in 2006
will be between $65 million and $70 million. CoTherix plans to provide
additional financial guidance for 2006 on March 8, 2006 when the company
reports its full fourth quarter and year end financial results.
"Ventavis, as the first inhaled prostacyclin therapy, has established an
important role in PAH treatment. Since launch, Ventavis has become more
convenient for patients with the introduction of the new, portable I-neb
inhalation device in mid-December. In less than one month, approximately
ninety percent of patients were converted to the I-neb device," said Donald J.
Santel, Chief Executive Officer of CoTherix, Inc. "We believe the added
convenience of the I-neb device will provide further momentum for strong sales
growth for Ventavis in 2006."
Santel added, "With our existing capital and projected revenue growth, we
believe we have the resources necessary to maximize the Ventavis opportunity
by continuing to invest in further clinical development. In addition, during
the first half of 2006, we plan to initiate the REVEAL Registry to contribute
to a better understanding of PAH disease management and improving patient
care."
About CoTherix, Inc.
CoTherix, Inc. is a biopharmaceutical company focused on licensing,
developing and commercializing therapeutic products for the treatment of
cardiopulmonary and other chronic diseases, including PAH. CoTherix,
REVEAL Registry and the CoTherix logo are trademarks of CoTherix, Inc.
More information can be found at http://www.cotherix.com or http://www.4ventavis.com.
Forward-Looking Statements of CoTherix
The statements contained in this press release that are not purely
historical are forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking statements in
this press release include statements regarding expectations, beliefs, hopes,
goals, intentions, initiatives or strategies, including statements regarding
our preliminary net product sales, financial guidance for 2006, our plans to
report financial results on March 8, 2006, our capital resources, our ability
to maximize the Ventavis opportunity, investment in clinical development and
initiation of the REVEAL Registry. All forward-looking statements included in
this press release are based upon information available as of the date hereof,
and CoTherix does not assume any obligation to update any such forward-looking
statement as a result of new information, future events or otherwise. Events
could differ materially from expectations. Factors that could cause or
contribute to such differences include, but are not limited to, factors
discussed in the "Risk Factors" section of CoTherixs most recent quarterly
report on Form 10-Q filed with the Securities and Exchange Commission.
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