Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF)'s third-quarter trading update for Accrufer in the US market shows its tie-up with Viatris and expanded sales team are “bearing fruit”, according to analysts.
Accrufer is a non-salt based oral therapy used to treat iron deficiency in adults.
Analysts at Cavendish said key performance indicators such as total scrips, new scrips, retention rate, and net realised price are all showing significant improvement compared to the first half of 2023.
The number of US representatives promoting Accrufer increased from 16 to 30 in the first quarter of 2023, and by May 2023, a total of 100 had been trained to sell the product.
Third quarter unaudited sales were US$4.1 million, above the broker’s forecasts of US$3.6 million, and the company said trading is in-line with expectations.