In This Article:
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter.
Dive Brief:
-
Sales of BridgeBio’s new heart medicine Attruby blew past analyst expectations in the first quarter, as the company built by “science nerds” took on market behemoth Pfizer.
-
Net product revenue reached $36.7 million in the period, surpassing the consensus analyst estimate of $12.6 million. The drug won Food and Drug Administration approval in November to treat a genetic condition known as transthyretin amyloidosis with cardiomyopathy.
-
As of April 25, Attruby had 2,072 prescriptions written by 756 prescribers, BridgeBio said Tuesday after the market closed. That momentum built on encouraging numbers released in February and helped push the company’s shares up in early trading Wednesday.
Dive Insight:
BridgeBio has been battling low expectations for Attruby because of its competition in a market analysts say may reach as much as $20 billion annually. For years, Pfizer’s tafamidis products were the only ones available for patients with transthyretin amyloidosis with cardiomyopathy, and the drugmaker giant racked up sales of more than $5 billion for the franchise last year.
Meanwhile, Alnylam Pharmaceuticals last month won approval to sell its Amvuttra injection for the deadly heart condition. Alnylam’s sales force already has in-depth knowledge of transthyretin amyloidosis, as the company has been selling Amvuttra for a form of the disease that causes progressive nerve damage since its approval in 2022.
Though none of the medicines have been tested against each other in head-to-head trials, BridgeBio CEO Neil Kumar believes his company’s drug may ultimately offer patients a better option. And he’s unafraid of taking on the established sales forces of his bigger rivals.
“There’s probably a degree of skepticism around `can a bunch of science nerds launch a drug,’” Kumar told BioPharma Dive after Attruby’s approval in November. “I’m going to show that we can do that.”
In its own earnings Tuesday, Pfizer acknowledged the new competition from Attruby even as it touted the “robust growth” of the tafamidis family of products. “We will work toward maintaining our market-leading position that has come from six years of establishing credibility and expertise with the cardiology community,” Pfizer said.
Over the last few months, Attruby has also won approval in the EU, U.K. and Japan. Partners will sell the drug under the brand name Beyonttra in those markets.