Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) now has access to 40mln commercial patients in the US for its breakthrough iron deficiency treatment.
This is because it successfully secured payer coverage for its product, Accrufer, with several large pharmacy benefit managers, including Express Scripts (NASDAQ:ESRX) and Optum.
These contracts will see Accrufer placed on formulary 1, a continually updated list of prescription drugs approved for reimbursement.
"We have made significant progress over the past few months in the US, by securing reimbursement for Accrufer among several large pharmacy benefit managers,” said Greg Madison, Shield’s chief executive.
“Gaining coverage of Accrufer among payers is a critical step for adoption, and we expect to further expand that coverage in 2022. Our clinical message has been well received during the initial stages of our launch, and we continue to expand awareness of Accrufer among health care professionals."