A major contributor to the strength in the shares of Ligand Pharma LGND over the past several quarters has been attributable to their single-digit royalty on sales on the multiple myeloma drug KYPROLIS (carfilzomib) from partner Onyx Pharmaceuticals ONXX. This post captures highlights and discussion regarding this drug from the recent ONXX earnings conference call.
Transcript highlights c/o SeekingAlpha.
"We've seen rapid penetration and encouraging depth of adoption by U.S. physicians who treat multiple myeloma patients with perceived bortezomib and in IMiD and who are progressing within 60 days of their last therapy."
"We estimate there are between 10,000 and 15,000 patients in the United States eligible each year under our label for Kyprolis. This number takes into account a constant influx of newly eligible patients, as well as sadly the mortality rate of this deadly cancer. In the first 7 months of launch, we've established a large base of Kyprolis prescribers, with more than 75% of the 2,000 initial high-volume target hospitals and clinics having ordered Kyprolis at least once and more than 80% of these accounts ordering more than once through December of 2012"
"Recent market research continues to confirm that Kyprolis is predominantly being used in our indicated population and with the approved dosing regimen. Our market share of the total potentially eligible third-line+ patient population was over 30% as we entered 2013."
"The adjustment from Kyprolis gross sales to reported net sales was approximately 19% in 2012, and we expect this gross to net adjustment in 2013 to average 15%, with some quarter-to-quarter variability."
Questions re competitive landscape after approval of pomalidomide - expressed confdence...
- Kyprolis (carfilzomib) $64m sales since launch, $45m in 4q2012
- We are still tracking data to establish duration of use. was 4.4 months on clinical trial
- No guidance at this time
"We've seen rapid penetration and encouraging depth of adoption by U.S. physicians who treat multiple myeloma patients with perceived bortezomib and in IMiD and who are progressing within 60 days of their last therapy."
"We estimate there are between 10,000 and 15,000 patients in the United States eligible each year under our label for Kyprolis. This number takes into account a constant influx of newly eligible patients, as well as sadly the mortality rate of this deadly cancer. In the first 7 months of launch, we've established a large base of Kyprolis prescribers, with more than 75% of the 2,000 initial high-volume target hospitals and clinics having ordered Kyprolis at least once and more than 80% of these accounts ordering more than once through December of 2012"
"Recent market research continues to confirm that Kyprolis is predominantly being used in our indicated population and with the approved dosing regimen. Our market share of the total potentially eligible third-line+ patient population was over 30% as we entered 2013."
"The adjustment from Kyprolis gross sales to reported net sales was approximately 19% in 2012, and we expect this gross to net adjustment in 2013 to average 15%, with some quarter-to-quarter variability."
Questions re competitive landscape after approval of pomalidomide - expressed confdence...
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