SAN FRANCISCO, CA, Feb 25, 2015 (Marketwired via COMTEX) -- Medivation, Inc. MDVN, +4.88% today reported its financial results for the fourth quarter and year ended December 31, 2014. U.S. net sales of XTANDI(R) (enzalutamide) capsules, as reported by Astellas Pharma Inc., were $230.2 million for the quarter (+82% vs. prior year) and $679.8 million for the full year 2014 (+73% vs. prior year). Fourth quarter U.S. net sales increased approximately 27% compared to third quarter net sales of $181.4 million. As previously disclosed, an estimated 80% of the sequential quarter percentage increase represents underlying demand growth, following the September approval of the metastatic castration resistant prostate cancer (CRPC) chemotherapy-naive indication. Based on information provided by Astellas, XTANDI U.S. net sales for the quarter ended December 31, 2014 included a $3.8 million favorable gross-to-net adjustment, as recorded by Astellas, and an increase in channel partner inventory of approximately one week, also as previously anticipated and disclosed.
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