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Jun 30, 2023
Ironwood Pharmaceuticals Q2 2023 Earnings Report
Reported second quarter 2023 results and raised full year 2023 LINZESS® U.S. Net Sales and Ironwood revenue guidance.
Key Takeaways
Ironwood Pharmaceuticals reported strong second-quarter results, driven by LINZESS's impressive performance. The company raised its full-year 2023 U.S. net sales and Ironwood revenue guidance. The FDA approved LINZESS for pediatric patients, and Ironwood acquired VectivBio, strengthening its GI portfolio.
LINZESS U.S. net sales increased by 9% year-over-year, reaching $270 million.
LINZESS prescription demand growth in the EUTRx increased by 9% year-over-year.
The FDA approved LINZESS for pediatric patients ages 6-17 years-old suffering from functional constipation (FC).
Ironwood acquired VectivBio Holding AG and its lead investigational asset, apraglutide, for the potential treatment of short bowel syndrome with intestinal failure.
Ironwood Pharmaceuticals
Ironwood Pharmaceuticals
Forward Guidance
Ironwood raised its full-year 2023 U.S. net sales and Ironwood revenue guidance.
Positive Outlook
- LINZESS continued its strong momentum with another quarter of impressive performance.
- LINZESS approved for the treatment of pediatric patients ages 6 to 17 years-old with functional constipation, expanding its clinical utility and adding another potential growth driver for the brand.
- Acquired VectivBio, including its lead investigational asset, apraglutide, which we believe is poised to become the new standard of care for patients with short bowel syndrome with intestinal failure if successfully developed and approved, with the potential to achieve $1 billion in peak net sales.
- Continuing to maximize LINZESS.
- Advance clinical programs.