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FDA Approval Pushes Dermira’s Stock Price Up

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FDA approval

Today, Dermira (DERM) announced FDA approval for its Qbrexza™ (glycopyrronium) cloth as a treatment option for primary axillary hyperhidrosis or excessive armpit sweating in both adults and pediatric patients above nine years of age. After this announcement, Dermira rose around 5.6% in the morning trading.

Market opportunity

Dermira estimates that almost 15 million people in the United States suffer from hyperhidrosis, of which 10 million suffer from axillary hyperhidrosis. Despite the high prevalence, only 35% of patients recognize excessive armpit sweating as a medical condition. Although the condition has been found to cause embarrassment, affect daily activities, and cause limitations at work, a very small percentage of patients are aware that treatment is available that can significantly improve their quality of life. According to a survey published in the  Journal of Drugs in Dermatology, about half of hyperhidrosis patients wait more than ten years before they approach a healthcare practitioner for this condition.

According to Dermira, approximately 76% of diagnosed hyperhidrosis patients are estimated to use over-the-counter (or OTC) antiperspirants while 30% seem to use prescription antiperspirants. However, only 11% of patients using OTC antiperspirants and 30% of those using prescription antiperspirants are satisfied. The more effective treatment options such as Oxybutynin, Allergan’s (AGN) BOTOX, Endoscopic Thoracic Sympathectomy, and miraDry or non-invasive strategies are used only by 6%, 6%, 5%, and 4%, respectively, of diagnosed patients.

In the context of high disease prevalence, low penetration of alternative treatment options, and low disease awareness, there’s significant unmet demand for Qbrexza in the hyperhidrosis segment.

So, to leverage this opportunity, Dermira is focused on creating awareness among both physicians and patients as well as ensuring broad coverage for Qbrexza.

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