Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) reported that net product revenue from Iclusig sales came at $65.3 million in 2Q2016 against revenue of $27.8 million in the same period, a year earlier. Net product revenue includes one-time revenue of almost $25.5 million pertaining to collective shipments of Iclusig in France. This revenue was recorded upon getting reimbursement and pricing approval in May 2016.
The management speaks
Paris Panayiotopoulos, the CEO and President of Ariad, said that they reported a robust second quarter. In 2Q2016, they commenced a rolling NDA filing for brigatinib depending on company’s report from the ALTA pivotal study. They showcased 4-year data from the Iclusig PACE clinical study and strengthened overall financial position through deal with Incyte and the robust sales of Iclusig. The focus is now on Iclusig growth, planning for the projected launch of brigatinib in the United States and driving forward strong pipeline.
Earlier in June, Ariad closed the sale of its European businesses to Incyte Corporation. It also included sale of an exclusive license using which Incyte will market Iclusig in selected countries. The company received nearly $140 million for the deal and is also entitled to obtain 32% -50% of European future net sales. In addition, they closed two distribution deals for Iclusig outside of the United States.
In Latin America, the deal with Pint Pharma International S.A. includes Mexico, Colombia, Argentina, Brazil and Chile. In the MENA region, the deal with Biologix FZCo. includes Saudi Arabia, Lebanon, and the Gulf Coast nations and selected other nations in the region. Following these deals, Ariad will get over 50% of Iclusig future net sales.
The future plans
In June, Ariad detailed its plan to invest in anticipated new opportunities in field of immuno-oncology. The company has received pharmacologic and genetic validation on a preliminary target kinase, with the program projected to enter lead optimization by 2016.