Rayaldee growth trends
In its third-quarter earnings conference call, Opko Health (OPK) forecasted its total product revenues to fall in the range of $28 million to $32 million in the fourth quarter. The company expects Rayaldee sales to fall in the range of $6.5 million to $7.1 million in the fourth quarter. Opko Health has also projected its revenues from the transfer of intellectual property to fall in the range of $18 million to $23 million in the fourth quarter.
In the third quarter, Opko Health reported total pharmaceutical product revenues of $25.4 million, which is 11.40% higher on a YoY basis. The company also reported Rayaldee sales of $5.8 million in the third quarter, which is a 21% rise on a sequential basis. Opko Health expects Rayaldee to become cash-flow positive in the fourth quarter. In the third quarter, Opko Health reported total revenues from the transfer of intellectual property of $21.6 million, which was a 3.57% decline on a YoY basis.
Rayaldee witnessed a 222% YoY rise and an 18% sequential rise in prescription volumes in the third quarter. About 14% of the total Rayaldee prescriptions in the third quarter were new-to-brand, while 20% of the total prescribers were new to the drug.
In the third quarter, there were 1,057 active prescribers for Rayaldee, which is a significant improvement compared to 929 prescribers in the second quarter and 764 prescribers in the first quarter. According to Opko Health, Rayaldee has been prescribed to 6,500 patients since its launch.
As per Opko Health’s third-quarter earnings conference call, 79% of total patients have access to Rayaldee. Additionally, while 52% of the Medicare beneficiaries had access to Rayaldee at the end of the third quarter, the company expects to witness further expansion of coverage beginning in January 2019.
In the next article, we’ll discuss expense projections for Opko Health in greater detail.