Rayaldee, Opko’s growth driver
Opko Health’s (OPK) Rayaldee generated revenues of $3.7 million in the first quarter. Rayaldee had a solid uptake in the first quarter, and it continued in the second quarter.
According to IMS Health data, total Rayaldee prescriptions had 730% year-over-year growth in the first quarter and 38% growth sequentially. Opko Health noted that 79% of patients have accessed Rayaldee therapy with insurance plans. Rayaldee prescriptions increased steadily each week at the beginning of 2018.
Rayaldee (calcifediol) is used for the treatment of adult individuals with secondary hyperparathyroidism who are at stage 3/4 chronic kidney disease and have low vitamin D levels in the blood. Notably, Rayaldee also demonstrated a safety profile similar to the placebo. Rayaldee therapy also has an insignificant effect on serum calcium and serum phosphorus.
Opko Health expanded its sales team for better commercialization of Rayaldee. Opko Health noted that presently there are 763 active healthcare providers who prescribe Rayaldee. That number increased 29% compared to the prior quarter.
Opko Health is working to expand the coverage of Rayaldee and expects a steady increase in awareness, adoption, and reimbursement of the drug. Opko Health expects Rayaldee to acquire a significant market share in stage 3/4 chronic kidney disease.
Rayaldee for long-term growth
Opko Health is planning to initiate a Phase 2 clinical trial with Rayaldee for the evaluation of its safety and efficacy in the treatment of individuals with stage 5 chronic kidney disease with secondary hyperparathyroidism who are undergoing dialysis. Opko Health plans to start the Phase 2 clinical trial during the third quarter.
In preliminary studies, Rayaldee also showed the potential for the treatment of stage 5 chronic kidney disease, osteoporosis, and cancer.
The growth in sales of Rayaldee could significantly boost the company’s revenue growth.