Alnylam CEO John Maraganore officially has a new-and-lofty goal: Vault the RNAi-focused company into the top five biotechs by market cap—by 2025.
What’ll that take? Six or more products, more than 500,000 patients on its therapies, 20 clinical programs with 10 or more in late-stage development, and at least four INDs per year. Not to mention revenue growth of 40% during that same time, Maraganore said Monday at the virtual J.P. Morgan Healthcare Conference.
Alnylam’s current portfolio of four therapies includes Onpattro and Gilvaari with $306 million and $55 million in 2020 revenue, respectively, as the company reported Monday. Onpatttro is approved to treat peripheral nerve disease (polyneuropathy) caused by hereditary transthyretin-mediated amyloidosis (hATTR) in adult patients, while Gilvaari’s nod is for the rare liver disease acute hepatic porphyria (AHP).
The company’s most recent FDA approval came in November, for Oxlumo, the first medicine for primary hyperoxaluria type 1, or PH1, a severe rare disease that causes patients to suffer from recurrent kidney stones and often forces organ transplants. Oxlumo sales were $300,000 for 2020, Alnylam said Monday.
Meanwhile, the company is readying vutrisiran for an FDA filing after recent positive Phase 3 results. If approved, vutrisiran will become its fifth RNAi therapeutic to market.
The new plan, which Alnylam calls P5x25, continues the vision Alnylam began with its now wrapped Alnylam 2020 strategy.
CEO John Maraganore said in a statement that the company exceeded those 2020 goals and is “thrilled” with the debut of its new strategy, “aimed at Alnylam’s planned transition to a top 5 biotech in market capitalization.”
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