Dowjones Newswire- Part segmentAbbott CEO-2:Confident Of Mfg...

Dowjones Newswire- Part segment

Abbott CEO-2:Confident Of Mfg Capacity For Humira Demand

CHICAGO (Dow Jones)--The launch of rheumatoid arthritis drug Humira this month is the most important product launch in the history of Abbott Laboratories (ABT) , the company's CEO said in a conference call Thursday.

The FDA approved Humira late last month, and the product is now on the market, White said. The company expects sales of $150 million or more this year and more than $500 million in 2004.

Humira represents the single most important product from a financial perspective that we've ever launched," and the launch comes six months ahead of the company's target date, White said during the conference call. He called approval another "milestone" in the rebuilding of Abbott's pharmaceuticals business.

Abbott is "highly confident" it has the manufacturing capacity to keep up with demand for the product, executives said.

Abbott also mentioned in their previous announcement that the European Agency for the Evaluation of Medicinal Products (EMEA) accepted Abbott's
submission for HUMIRA(TM) for the treatment of RA in April 2002, and approval is anticipated in mid-2003.

Peptech had earlier announced
that it could look forward to the receipt of two milestone payments, one due upon approval from the EMEA in Europe, and the second upon first commercial shipment.

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