Business
Theravance Biopharma, Inc. Reports Third Quarter 2021 Financial Results and Provides Business Update
- Implied 35% share of YUPELRI® (revefenacin) US net sales[1]: $13.8 million, up 7% from Q3 2020 - TRELEGY Q3 2021 global net sales: $449 million, up 77% from
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"- Implied 35% share of YUPELRI® (revefenacin) US net sales[1]: $13.8 million, up 7% from Q3 2020\n - TRELEGY Q3 2021 global net sales: $449 million, up 77% from Q3 2020[2]\n - Restructuring proceeding according to plan\n\n\nDUBLIN, Nov. 3, 2021 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today reported financial results for the third quarter of 2021. \n\n \n \n \n \n \n \n\n \n\"This last month has been about executing on our strategy to create a new Theravance Biopharma, focused on leveraging expertise in developing and commercializing respiratory therapeutics. We are executing against the strategic plan we announced in mid-September to become cash-flow positive by the second-half of 2022,\" said Rick E Winningham, Chief Executive Officer. \"We are on track to reduce headcount by approximately 75% with the large majority of staff departing by the end of November and the remainder by the end of February. Our focus is driving growth of YUPELRI, streamlining R&D investment and optimizing our asset portfolio to maximize shareholder value.\"\nQuarterly Highlights\nYUPELRI® (revefenacin) inhalation solution, the first and only once-daily, nebulized bronchodilator approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD), continued to increase its share of the long-acting nebulized COPD market, increasing to 22% in July 2021, up from 21% in April 2021, and net sales increased by 7% year-over-year (Q3 2021 vs. Q3 2020). The Company, in collaboration with its partner Viatris, is also initiating a Phase 4 study comparing improvements in lung function in adults with severe to very severe COPD and suboptimal inspiratory flow rate following once-daily treatment with either YUPELRI® (revefenacin) delivered via standard jet nebulizer or tiotropium delivered via a dry powder inhaler (Spiriva® HandiHaler®). This study is aimed at helping to better inform decisions when physicians are designing a personalized COPD treatment plan with patients. Success in this study would capture more of YUPELRI's addressable market and further strengthen its competitive advantage.On September 15, 2021, the Company announced strategic actions to focus on its respiratory disease portfolio (read more about the actions here). Ampreloxetine, an investigati...