Pharmion raises sales forecasts

Although the US biotech company will not release end of year results until February, the update reflected a rise in its sales forecast for 2006 and 2007. Pharmion expects to report total net sales in a range of $240 to $250 million for 2007.

Research and development expenses for 2007 are expected to total approximately $100 million, the company said, with the growth over 2006 driven by the addition of Amrubicin to its product portfolio in the fourth quarter of 2006 and the extensive clinical development and regulatory objectives for 2007.

Patrick Mahaffy, Pharmion’s president and CEO, said: “With three marketing authorization applications planned in Europe, survival data from two large randomized phase III studies and the initiation of pivotal studies for two products we’ve most recently licensed, 2007 could represent a significant leap forward for our organization.”