Neurocrine Biosciences, Inc. (NASDAQ:NBIX) reported robust sales in the fourth quarter FY2018. Notably, the firm revealed that it earned $130 million in the quarter compared to $64.5 million in Q4 2017. As a result, the full year earnings amounted to $409 million against $130 million for 2017.
INGREZZA sales exceeding expectations
Commenting on the results, Kevin Gorman, CEO of Neurocrine attributed the excellent performance to INGREZZA. Notably, this is a new product that just made its debut on the market. The drug targets tardive dyskinesia in patients. However, the CEO said that the biggest challenge they face is the individuals who have the disease but still unidentified.
On reaching more patients, Gorman said that Neurocrine would expand its sales team to cover more land area. Further, the firm will expand the education program that seeks to spread awareness about INGREZZA.
In this respect, Gorman said, “We still have a lot of work to do as many people suffering from tardive dyskinesia remain undiagnosed and untreated, and we remain committed to helping the lives of patients through our recently expanded field sales team and disease awareness education.”
Neurocrine expects to launch a new drug before the end of 2020
In the progress report and future expectations for the firm, Neurocrine revealed key milestones it seeks to beat. Notably, the firm hopes to submit NDA for Opicapone which targets Parkinson’s disease. In particular, this submission will, expectedly, happen in the second quarter of 2019. Notably, these are the initial steps that will culminate into commercial launching of the drug in 2020.
Besides, the trials for Congenital Adrenal Hyperplasia (CAH) are progressing as planned. Notably, the development of the drug is in the first section of Phase 2. In particular, the clinical data for the drug candidate for adults will be ready for release in Q1 2019.
Further, data for the pediatric segment will follow somewhere between the second and third quarters of 2019. In the same year, Neurocrine expects to launch the pivotal study for the adult version of CAH. The firm plans to initiate Phase 1 trials for new drugs that will add to the already satisfactory pipeline.