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8-K - FORM 8-K - HUMAN GENOME SCIENCES INC | c15531e8vk.htm |
EX-99.2 - EXHIBIT 99.2 - HUMAN GENOME SCIENCES INC | c15531exv99w2.htm |
Exhibit 99.1
Media Contacts:
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Investor Contacts: | |
Susannah Budington
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Claudine Prowse, Ph.D. | |
Director, Corporate Public Relations
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Executive Director, Investor Relations | |
301-545-1062
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301-315-1785 | |
Jerry Parrott
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Peter Vozzo | |
Vice President, Corporate Communications
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Senior Director, Investor Relations | |
301-315-2777
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301-251-6003 |
HUMAN GENOME SCIENCES UPDATES INVESTORS ON PROGRESS OF BENLYSTA® LAUNCH AND FUTURE PRIORITIES
| U.S. launch of BENLYSTA for systemic lupus off to a good start; launch preparations in Europe on track | ||
| HGS expects to reach profitability in 2013 |
ROCKVILLE, Maryland April 14, 2011 Human Genome Sciences, Inc. (Nasdaq: HGSI)
today will report on the progress of its U.S. launch of BENLYSTA® (belimumab) and
outline future strategic priorities at a meeting of financial analysts and investors
in New York. (A webcast of todays HGS Analyst and Investor Meeting may be accessed
at www.hgsi.com, beginning at 1:00 PM Eastern time.)
The FDAs approval of BENLYSTA as the first new drug for systemic lupus in more than
fifty years opens the door to a promising future for Human Genome Sciences, said H.
Thomas Watkins, President and Chief Executive Officer. Our U.S. launch of BENLYSTA
is off to a good start, our preparations for a European launch are on track, and our
collaboration with GlaxoSmithKline is going well. HGS now expects to reach
profitability in 2013.
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Mr. Watkins said that, as the Company moves forward, HGS has three over-arching
strategic priorities: first, the successful global commercialization of BENLYSTA;
second, achieving the full therapeutic and commercial potential of
BENLYSTA through further
development in SLE and other B-cell mediated diseases; and third, continuing to
strengthen the HGS product pipeline.
2011 Financial Guidance
As previously indicated, HGS expects cash and investments at year-end 2011 to total
between $550 million and $650 million. Cash and investments were $933.4 million at
year-end 2010.
At todays Analyst and Investor Meeting, HGS said that it expects SG&A and R&D expense
for 2011 to total between $330 million and $390 million. The anticipated SG&A
increase to between $150 million and $170 million will primarily reflect the full-year
impact of the U.S. commercial expansion begun in 2010, as well as continued growth of
the HGS organization in Europe. The Company expects R&D spending for the year to
total in the range of between $180 million and $220 million.
HGS Analyst and Investor Meeting Webcast
The presentations at the HGS Analyst and Investor Meeting today in New York will be
webcast starting at 1:00 PM Eastern time and may be accessed at www.hgsi.com.
Investors interested in listening to the live webcast should log on before the
presentations begin in order to download any software required. The archive of the
presentations will be available for several days following the meeting.
About Human Genome Sciences
Human Genome Sciences exists to place new therapies into the hands of those battling
serious disease.
For more information about HGS, please visit the Companys web site at www.hgsi.com.
Health professionals and patients interested in clinical trials of HGS products may
inquire via e-mail to medinfo@hgsi.com This e-mail address is being protected from
spam bots, you need JavaScript enabled to view it or by calling HGS at (877) 822-8472.
HGS, Human Genome Sciences and BENLYSTA are trademarks of Human Genome Sciences, Inc.
Other trademarks referenced are the property of their respective owners.
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Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The forward-looking statements are based on Human
Genome Sciences current intent, belief and expectations. These statements are not
guarantees of future performance and are subject to certain risks and uncertainties
that are difficult to predict. Actual results may differ materially from these
forward-looking statements because of Human Genome Sciences unproven business model,
its dependence on new technologies, the uncertainty and timing of clinical trials and
regulatory approvals, Human Genome Sciences ability to develop and commercialize
products, its dependence on collaborators for services and revenue, its substantial
indebtedness and lease obligations, its changing requirements and costs associated
with facilities, intense competition, the uncertainty of patent and intellectual
property protection, Human Genome Sciences dependence on key management and key
suppliers, the uncertainty of regulation of products, the impact of future alliances
or transactions and other risks described in the Companys filings with the SEC.
Existing and prospective investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of todays date. Human Genome
Sciences undertakes no obligation to update or revise the information contained in
this announcement whether as a result of new information, future events or
circumstances or otherwise.
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