Ironwood Pharmaceuticals, Inc. (IRWD) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Great. Thank you very much for joining us today. My name is Mohit Bansal. I'm one of the biotech and pharma analysts here at Wells Fargo, and I'm joined by Tim Ironwood today. So we have Tom McCourt, the CEO of the company, and we have Shravan Imani, the CFO of the company. Thank you very much for joining us. Great to be here. Great. So maybe let's just start with those who are new to the story. They are trying to learn the story. Talk a little bit about the company, just a brief overview of the company and what you're up to. Sure. So Ironwood is a GI-focused healthcare company. Our primary focus is in GI medicines. And about five years ago, we reorganized the company to really strengthen our overall skills and capabilities around GI disease, both with regard to development and commercial. We have a lead asset in Linzess, which is the market-leading brand for the treatment of IBS and chronic constipation. It continues to thrive in the market. It's really been a remarkable drug and story in that, you know, in year 12, based on, you know, based on really a platform of about 4.5 million prescriptions, it's still growing at about 10% a year, which is really remarkably steady and consistent, durable growth that we're very proud of. And it's obviously, you know, reached blockbuster potential, exceeding a billion dollar in sales. And, you know, we recently are continuing to nurture that. We have faced some pricing pressures over the last year or so that we're working through, but it's still throwing off really healthy revenue. And so the primary objective of the organization is to maximize, at this point, the profitability of the brand through LOE, which is March of 2029. So we have a number of years of good growth and certainly opportunity to harvest the brand. In addition...