Testosterone Drugs Raise Heart Risk in $1 Billion Market

Testosterone Drugs Raise Heart Risk in $1 Billion Market

Testosterone therapy, a $1.6 billion market for companies including AbbVie Inc. and Eli Lilly (LLY) & Co., boosted the odds of having a heart attack, stroke or dying by 29 percent in one of the first studies weighing the supplement’s cardiovascular risk. The findings came from a review of 8,709 men treated in the U.S. Veterans Affairs health system, many with underlying illnesses including prior heart attacks and diabetes. While the study didn’t identify a reason for the risk, testosterone is known to worsen sleep apnea and affect blood platelets, linked to atherosclerosis and coronary plaque, the authors said.The researchers urged more study on testosterone. Anne Cappola, an associate editor for the Journal of the American Medical Association, which published the report today, said men need to be made aware of the risks by their doctors, and questioned how the supplement is marketed.

Some “think it’s the fountain of youth,” Cappola said in a telephone interview. “It’s going to give them back sexual performance, strength and endurance. The direct marketing of testosterone is playing into that. There needs to be that other voice saying there’s no medication out there with all benefit and no risk. There’s always a trade off.”

Testosterone treatments are given through gels, patches and injections. Prescriptions for the supplements rose more than five-fold to 5.3 million in 2011 from 2000, the authors said.

Five Million

About 5 million American men don’t produce enough of the hormone, according to the National Institutes of Health. A study in Europe published a decade ago found 1 in 5 men older than 50 has moderate-to-severe symptoms of testosterone deficiency. Fewer than 2 percent of cases outside the U.S. get treated, Malcolm Carruthers at London’s Centre for Men’s Health, wrote in a paper published in 2009.

AbbVie’s Androgel may generate $1.14 billion this year for the North Chicago, Illinois-based drugmaker, an increase from $874 million in 2011, according to data compiled by Bloomberg. Lilly’s Axiron is expected to produce $168 million in 2013 sales from $24 million in 2011 when the Indianapolis-based company introduced the drug. Parsippany, New Jersey-based Actavis Plc doesn’t list revenue for the Androderm patch.

AndroGel is approved by U.S. regulators to treat adult men with low or no testosterone who have been diagnosed with the condition, called hypogonadism, by a doctor. The drug has more than 10 years of “clinical, safety, published and post-marketing data, with its therapeutic risks well-documented in the prescribing label,” David Freundel, an AbbVie (ABBV) spokesman, said today in an e-mail.

“We encourage discussion between physicians and patients that leads to proper diagnosis based on symptoms, lab tests and a patient’s other health needs,” Freundel said.

Broader Issues

In an accompanying editorial, Cappola, an associate professor at the University of Pennsylvania in Philadelphia, said it remains unclear whether the finding can be generalized to a broader population of relatively healthy men. This includes those with so-called low T syndrome, where testosterone falls under certain levels, for anti-aging purposes or in younger men taking it for physical enhancement, she wrote.

An earlier study of testosterone supplements used in elderly males, funded by the U.S. National Institute on Aging and run at Boston Medical Center, was stopped in 2009 because an audit found it caused more heart attacks and high blood pressure.

Teresa Shewman, a Lilly spokeswoman, said the company is aware of cardiovascular events in men taking testosterone therapies.

‘Accurate’ Advertising

“Lilly works with the scientific community and regulatory bodies to further understand and communicate the risks and benefits of testosterone replacement therapy,” Shewman said. “As a company responsible for developing medicines, Lilly is committed to providing advertising that is truthful, accurate and balanced. We encourage men to talk with their physician to weigh the benefits and risks before taking any prescription.”

The risk noted in today’s study was similar for men who had underlying heart conditions and those who didn’t, said Michael Ho, the senior researcher and a cardiologist at the Veterans Affairs Eastern Colorado Health Care System in Denver, who called the findings “a potential signal’ suggesting more research is needed,

‘‘I don’t know if the findings of this study would necessarily say that all men should not be on testosterone therapy,” Ho, who is also an associate professor of medicine at the University of Colorado at Denver, said in a telephone interview. “It provides additional information that they can talk to their physician about.”

To contact the reporter on this story: Nicole Ostrow in New York at nostrow1@bloomberg.net

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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