A new class of anti-cholesterol drugs currently under development in the leading pharmaceutical companies has excited cardiologists attending the annual American College of Cardiology meet.
The injectable drug is touted to be better than statins and can cut down LDL, or bad cholesterol levels, drastically compared to statins alone by blocking a protein called PCSK9. Clinical trials conducted by Regeneron Pharmaceuticals in their drug, known as REGN 727, have reportedly shown the drug to cut down LDL levels by more than 65 percent beyond reductions seen alone with statins.
The development of the drug has also excited the Wall Street with analysts predicting the drug to be the next multi-billion dollar class of heart drugs with projected annual sales of $8 billion to $25 billion.
Says Mani Mohindru, an analyst with Think Equity, "It will be a significant event because a lot of cardiologists haven't seen this data. And Wall Street still doesn't appreciate how wide a use the drug could have. It's not in Regeneron's stock in a big way, so there's upside here."