SGIOY - Shionogi CEO sees $2B in sales of COVID pill following US approval - Reuters

• Shionogi ( OTCPK:SGIOY ) CEO Isao Teshirogi expects that assuming it wins US regulatory approval, the Japanese pharma's COVID-19 pill Xocova (ensitrelvir) will lead to $2B in annual sales.
• Speaking with Reuters, Teshirogi said that Xocova's US FDA approval could come in the winter of 2024. The company is awaiting a phase 3 trial that is to be funded by the US National Institutes of Health.
• In 2022, Shionogi ( OTCPK:SGIOF ) sold 2M Xocova courses to the Japanese government 100B yen (~$734.2M). The company is hoping for $1B-$1.5B this year.
• Teshirogi believes that the $2B is attainable given that Pfizer ( PFE ), which makes the COVID pill Paxlovid, has projected $20B in COVID-related sales in 2023. The US drugmaker, however, has only projected $8B in sales of Paxlovid for this year .
• Read Seeking Alpha contributor Another Mountain's Rock Investing argument for why Xocova could be more effective than Paxlovid or Merck's ( MRK ) Lagevrio.

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