Arecor Therapeutics: AT220 sales building momentum
AT220, which we believe to be Fresenius’s Tyenne (tocilizumab), was discussed in detail during management’s Q324 results call. In its first year post-launch in Europe it has gained impressive clinical traction, posting a 19% share within the EU5 markets. The US is also performing well, following FDA approval in March 2024, with keen interest from major buying institutions. The product-specific Q-code was granted in late-October, opening the gateway to greater uptake as prescribing hurdles are reduced. The meeting tone was upbeat, with expectations that Tyenne would be able to capitalise on being the first approved tocilizumab biosimilar. However, the timing of the Q-code means our expected adoption has been pushed out by a quarter. Adjusting for this, and uncertainty over Ogluo’s sales following the packaging issues, means we trim our forecasts for FY24 and FY25. The flow through in our rNPV model, modestly decreases valuation to £155m, or 410p/share, from £157m, or 415p/share
We are experienced healthcare and life sciences analysts providing the highest quality service to companies in these sectors and to investors. We have expertise in the fields of the biotech, medtech , specialty pharma and consumer health sectors.
The old-fashioned values of the City enabled London to become a global financial centre, and we pride ourselves for our integrity and professionalism, where our word is our bond. This applies to our research, and all interactions with companies, the buyside and other partners.
We also firmly believe that by putting our clients first, we create long term value for all stakeholders.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.