Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF), the commercial-stage specailist pharma company known for its Accrufer iron deficiency treatment, saw significant growth in the US market in the third quarter - pointing to increasing demand and market acceptance of the product.
Net sales for the period were US$4.1 million while the selling price reached US$148 per prescription, a 24% rise compared to the first half of the year.
Prescription numbers provided a clear picture of demand. Over 27,750 were recorded in Q3, marking 76% sequential quarterly growth. This surge is part of a broader trend, with total prescriptions exceeding 54,000 in the first nine months of 2023.
Other key metrics from the Q3 results include an 87% increase in new prescriptions and a 27% rise in the number of first-time prescribers.
Furthermore, repeat prescriptions were strong, with 77% of healthcare providers who prescribed Accrufer in Q2 continuing to prescribe it in Q3.
"Shield continues to make excellent progress on the US commercial launch of Accrufer," said chief executive Greg Madison.
"As we approach the one-year anniversary of the announcement of the Viatris agreement, I am pleased to report that the collaboration continues to deliver excellent results, based on the stand-out performance of the combined commercial team, which has produced consistent and strong sequential prescription growth and key performance indicators (KPI), which are trending towards previous guidance.
"In addition, we have made positive strides towards our goal of increasing our average net selling price and expect further progress in 2024."