Valbenazine

The schizophrenia market in 7MM is projected to grow at a 7.4% CAGR, from $8.4b in 2021 to $17b in 2031, driven by 11 late-stage pipeline products. These therapies are expected to capture 33.4% of the market share in 2031, with Cobenfy projected to be the top-selling drug by 2031, with $2.2b in sales. However, patent expirations of LAIs may slow growth, though new therapies will help counterbalance this.

Neurocrine Biosciences' new FDA-approved non-steroidal drug, Crenessity, treats classic congenital adrenal hyperplasia (CAH), offering an alternative to steroid treatments with fewer side effects. Approved for both adults and children aged 4+, it reduces ACTH and adrenal androgens, with potential for significant revenue. Neurocrine plans to disclose pricing upon launch, with projections of $150 million in 2025 and peak sales of $1.47 billion.

The schizophrenia market in 7MM is expected to grow at a CAGR of 7.4% from $8.4bn in 2021 to $17bn in 2031, driven by 11 late-stage pipeline products. These new products, with higher annual cost of therapy, will capture 33.4% of global sales in 2031. Cobenfy, approved in 2024, could become the top-selling drug with $2.2 billion sales in 2031. The US dominates the market due to a large patient population and high drug costs. Challenges include generic erosion of antipsychotic LAIs, but pipeline therapies will fuel market growth.

Goldman Sachs raised Neurocrine Biosciences' price target to $182 from $177, maintaining a Buy rating. The FDA approved Neurocrine's drug Crenessity for classic congenital adrenal hyperplasia (CAH), marking a significant advancement in CAH treatment. Neurocrine's strong financial health, with 25.7% revenue growth and a current ratio of 4.37, supports its market position. The approval validates Neurocrine's drug development capabilities, enhancing its standing and reducing market risk. Goldman Sachs anticipates details on Crenessity's pricing strategy and evaluates launch progress through indicators like patient adoption and insurance coverage. Neurocrine's recent strong third-quarter earnings and a $300 million share repurchase plan further support its positive outlook.

J&J's icotrokinra, a psoriasis treatment, achieved significant skin clearance with demonstrated tolerability in Phase III trials, positioning it as an industry-leading once-daily pill.

Neurocrine Biosciences reported $622.1M in Q3 2024 revenue, driven by INGREZZA sales, and achieved milestones like FDA Priority Review for crinecerfont. Challenges include commercialization risks and competitive pressures.

Interim data from KINECT-HD2 study shows valbenazine (Ingrezza) is safe and effective for up to 1 year in treating Huntington disease chorea, with improvements in Total Maximal Score (TMC) observed from week 2 to week 50, regardless of antipsychotic use. The study involved 125 HD patients, with 95.2% reporting at least one treatment-emergent adverse event, and 13.6% discontinuing due to adverse events.