Neuren outlines higher royalties from US drug
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The news: Neuren Pharmaceuticals expects rising royalty payments from higher sales of its Retts syndrome treatment drug that was recently launched in the US.
The numbers: Neuren said it expects sales of USD370 million ($569.65 million) to USD420 million for its Daybue drug in 2024, which would yield it royalties of $61 million to $70 million plus sales milestone revenue of $77 million through its US partner Acadia Pharmaceuticals.
Of this, March quarter sales are likely to be in the range of USD76 million to USD82 million, earning Neuren royalties of $11.7 million to $12.6 million.
Neuren's share price rose 0.96% to $19.48 during early trading on the ASX.
The context: The Daybue drug, launched in April 2023, recorded net sales of USD177.2 million for 2023. Acadia also fully funds and has exclusive rights to develop and commercialise Neuren's trofinetide drug globally.
Neuren said Acadia was making good progress towards expansion outside the US, with Canada’s health department granting a priority review, ongoing discussions with the European Medicines Agency (EMA) for a potential marketing application filing in H1 2025, and engaging with Japan’s pharmaceuticals regulatory agency this year.
The source: ASX announcement
