Shield Therapeutics said it was encouraged by the the demand of its its recently approved product for the treatment of iron deficiency anaemia (IDA), Feraccru. It has been only six months since its launch in England, and three months in Germany.
The company said in an update on Friday that it reasonably hopes for positive commercialization of Feraccru.
Shield also said that after launching Feraccru, it aims to become a “fully-fledged” commercial pharmaceutical company.
“We have continued to build out the appropriate central resources to support the Group, at the same time as building a commercial product distribution function as well as the beginnings of a European sales and marketing infrastructure,” the company has said.
Positive pricing now entrenched in key markets is a good opportunity for Shield, which has also made first sales to AOP, its Central and Eastern European partner, to push the sales of Feraccru. Shield has also filed a new drug approval application with the Swiss authorities and this should translate to commercialisation in Switzerland during 2018.
Carl Sterritt, Chief Executive Officer of Shield Therapeutics, said: “The focus for the Group is to drive significant sales growth of Feraccru via our own salesforce or licensing partners and generate additional compelling clinical trial data that can be proactively used to increase and extend the unique commercial opportunity we are creating. The extensive formulary access and P&R process in the UK is undoubtedly frustrating and time consuming, however with Feraccru now becoming increasingly available to prescribers, I am encouraged at the signals of demand we are seeing in England. With no such P&R requirements in Germany, whilst it is early days, I am further encouraged that the opportunity we know exists for Feraccru is beginning to materialise in this very large pharmaceutical market. With a newly launched product, Shield remains well positioned to capitalise on this interest and deliver growth, initially through Feraccru, and, in the near to medium term, through our other pipeline assets as well as the planned acquisition or in-licensing of other complimentary products.”