Global Blood Therapeutics Inc. (NASDAQ:GBT) Reports $36.9 Million In Net Sales From Oxbryta® In Q3 2020

Global Blood Therapeutics Inc. (NASDAQ:GBT) has announced its third quarter ended September 30 results and reported its corporate updates.

GBT launched Oxbryta for SCD patients in Q3

The company continues to execute successfully, and in the third quarter, it launched Oxbryta. GBT CEO and President Ted W. Love said that the launch expands Oxbryta’s access and adoption as a first-in-class treatment targeting underlying sickle cell disease (SCD) cause. Love said that the company saw an increase in new prescriptions despite the current surge in COVDI-19 cases in the US, including in states where the number of SCD patients is high. SCD patients are at high risk of serious illness due to coronavirus.

GBT made significant progress with the addition of new prescribers as well as the expansion of payer coverage. The CEO said that this established a robust foundation for the launch of Oxbryta, which continues to be pleasing. Love said that they are monitoring COVID-19 infection rates countrywide, and the company will continue prioritizing health and safety of healthcare providers (HCP), patients and its staff.

During the quarter, the company took a massive step in availing Oxbryta globally through a distribution agreement aiming at offering access to SCD patients in the Middle East. The company also co-hosted the 9th Annual Sickle Cell Diseases Therapeutics Conference as part of its commitment to enhancing awareness on challenges that SCD patients face.

GBT reports $36.9 million Oxbryta net sales

In Q3 2020 the company generated Oxbryta nets sales of $36.9 million and $82.5 million net sales for the first nine months of the year. GBT reported over 1,000 new Oxbryta prescriptions in the quarter even though there was a surged in COVID-19 cases during the period. The increase in new prescriptions from the previous quarter is a sign of the continued growth in telemedicine by HCP, in-person visits in some areas and virtual engagement with GBT field representatives.

GBT also secured a broad Oxbryta reimbursement coverage during the quarter ahead of expectations, with around 90% of lives covered through payers.