Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) has announced its Q3 2020 financial results in which net product revenue was $82.5 million and provided updates of corporate highlights.
Alnylam strongly executed in Q3 with net product sales of $82.5 million
John Maraganore, Alnylam’s CEO, said that in Q3, the company saw an exceptional performance of GIVLAARI and ONPATTRO. The performance is a reflection of strong commercial execution and rebound of the market conditions after pandemic-induced challenges in Q2 2020. Maraganore also said that the company received positive CHMP opinions recently of LEQVIO and OXLUMO which are transformational experimental RNAi therapeutics. The CEO is optimistic that the company will end the year with four revenue-generating products, thus bolstering the company’s sustained growth.
The company posted global net product revenue in Q3 of $82.5 million, which is a 24% QoQ growth and 21% QoQ growth in the US. Commercial ONPATTRO treatment attained more than 1,150 patients globally as of the end of September. Alnylam continues to enhance its marketing efforts across Canada, Europes, Middle East and Africa and recently launched ONPATTRO in Portugal, completed initial access deal in Canada and concluded price negotiations in France.
Alnylam expanding access to GIVLAARI globally
Global GIVLAARI® net product sales in Q3 were $16.7 million, and commercial GIVLAARI treatment globally reached 150 patients at the end of the quarter. The company is making considerable progress in the US, and so far it has finalized 10 VBAs with confirmed access and commercial payers for more than 90% of covered Americans. The company continues its global expansion of GIVLAARI and recently received approval in Canada and submitted NDA in Japan. Market access efforts are ongoing throughout the CEMEA region with cohort Temporary Authorization for Use supply in France, launch in Germany and patient sales in other countries.
Alnylam closed a $150 million research and development funding component of its previously announced $2 billion strategic funding partnership with Blackstone to expedite the advancement of RNAi therapies. During the quarter the company also expanded its global commercialization reach by signing a distribution agreement with taiba Middle East.