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Spinraza Still a Key Asset for Biogen in 2018

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Spinraza’s growth trends

In Q2 2018, Biogen’s (BIIB) SMA (spinal muscular atrophy) drug Spinraza reported global revenues of $423 million. The drug saw a 28% sequential rise in the number of commercially covered patients in the quarter. That included patients from expanded access programs as well as those enrolled in clinical trials. About 5,000 commercially covered patients had been administered Spinraza by the end of Q2 2018.

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Biogen is focused on increasing the adoption of Spinraza in the adult population by establishing adult treatment centers, creating awareness about the benefits of the therapy, and working to expand access to the drug. In Q2 2018, Spinraza saw a 20% sequential rise in the number of adult patients and a 10% sequential rise in the number of total patients in the United States.

Spinraza is also witnessing a strong demand in ex-US markets such as Europe, Latin America, and Asia Pacific. By end of Q2 2018, the company had filed for regulatory approval of Spinraza in seven countries, including China. The company plans to file applications in four more countries by end of 2018. Biogen has already secured formal reimbursement for Spinraza in 24 countries and aims to get formal reimbursement in seven more.

The above diagram shows the revenue trend for Spinraza from Q2 2017 to Q2 2018.

Market opportunity

Biogen estimates that Spinraza is currently being used by half of the eligible infants and pediatric patients in the United States. The drug has reached ~10% of all eligible adults in the United States. The company has also estimated that while only 5% of the SMA patient population are infants, almost 35% are pediatric patients, and the remaining 60% are adults. These statistics highlight the large market opportunity available for Spinraza.

Spinraza has been seeing an increasing revenue contribution from maintenance doses. In Q2 2018, almost 55% of the drug’s revenues from the US market were attributable to maintenance doses, which is higher than the 40% contribution in Q1 2018. The average doses per patient for Spinraza remained at 11 in Q2 2018, which is similar to Q1 2018.

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