Myovant Sciences (NYSE: MYOV) is a healthcare corporation that mainly focuses on redefining men and women’s healthcare which recently announced financial results and corporate updates for Q1 F21.
Senior Management
Myovant’s Chief Executive Officer, David Marek, said that he was delighted the great progress the company has made toward redefining men and women’s healthcare. He confirmed that the FDA approved MYFEMREE in May to help treat women suffering from uterine fibroids. Both Pfizer and Myovant launched MYFEMBREE in the middle of June. Mr. Marek further stated that they were excited by the early progress and are eager to introduce this new treatment solution to the many women battling uterine fibroids symptoms.
In July, the supplemental New Drug Application they submitted to the US FDA sought to extend MYFEMBREE’s approval to include females battling endometriosis. Lastly, RYEQO was finally approved in Europe. Upon the approval, this therapy became the only long-term and first oral medication for uterine fibroids. David said that they’re looking forward to launching RYEQO. He further confirmed that Gideon Richter would be executing the launch later this year.
Key Highlights
ORGOVYX’s net product revenue was $10.5 million in Q1 F21, and increased prescriber demand is what helped drive this revenue up. Roughly 1,100 healthcare facilities have prescribed this said treatment to more than 4000 patients on a commercial and free drug. The number of people taking this specific treatment is steadily increasing ever since it was launched.
This year, the company achieved 78% Part-D Medicare Coverage and 63% commercial coverage for ORGOVYX. On May 26, Myovant got FDA approval for MYFEMBREE. This approval triggered a regulatory record payment of about $100 million from Pfizer. The company received this payment in July of this year, which was the company’s second fiscal quarter.
