Dendreon Corp, the manufacturers of prostate cancer vaccine Provenge, may face an uphill battle in finding a buyer, Bloomberg reports. The company is reportedly working with JPMorgan Chase to find a buyer, but analysts have said that intensifying competition and disappointing sales of Provenge may mean potential suitors are unlikely to come forward.
One of the problems Dendreon has had in marketing the $93,000 therapy is its difficulty in administration and the requirement to train doctors. However, other analysts told Bloomberg that Provenge could be successful if the company was bought by the right acquirer, such as a larger maker of oncology drugs.
When Provenge was approved in 2010, the cancer vaccine was estimated to generate $4.3 billion in sales by 2020. After a troubled few years on the market, that estimate has fallen to $476.5 million.
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