Uroplasty, Inc. (UPI) Executives Unfazed Over Competition From Allergan Inc. (AGN)'s Botox to Treat Overactive Bladder
1/28/2013 8:36:22 AM
Botox is the miracle wrinkle-remover but if many were expecting that its approval to treat overactive bladder would cause wrinkles on the foreheads of senior management at Minnesota incontinence treatment company Uroplasty, they were mistaken. At least for now. In a conference call with analysts to discuss the company’s third fiscal quarter earnings Thursday, Uroplasty CEO Dave Kaysen said the company had been expecting an approval and wasn’t surprised that it came in early 2013. Kaysen went on to paint broad picture of “a high tide lifts all boats” scenario. We know today that fully two-thirds of the people in the US with OAB do not currently seek treatments for their symptoms. The more patients that visit the doctor seeking improvement, the better for all of the solutions, including Urgent PC. Botox is clearly not for every patient, especially when you consider the published potential side effects, which include urinary tract infections and urinary retention. We believe this will open opportunities for Urgent PC as an effective treatment with few, if any, side effects. So in summary, we anticipate that Botox and Allergan will expand the market, and that we will benefit from that growth, with what we believe is an outstanding product for treating overactive bladder, that being our Urgent PC. Sales of the company’s Urgent PC neuromodulation have been going from strength to strengthas the company has been successful in overcoming reimbursement challenges. In the third fiscal quarter ended Dec. 31, sales of Urgent PC jumped 37 percent in the U.S. Total sales of the company was $5.6 million, up 5 percent from the same quarter in 2011.