Aegerion Pharmaceuticals, Inc. (AEGR) announced preliminary 2014 net product sales estimates and provided an outlook for 2015. The information was presented at the Annual J.P. Morgan Healthcare Conference on Jan 12, 2015.
Snapshot of 2014 Results
For the fourth quarter of 2014, Aegerion expects net product sales in the range of $49.3 million to $51.3 million, reflecting 105% year-over-year and 15% sequential growth.
For 2014, the company expects preliminary net product sales in the range of $156–$158 million, narrower than the company’s previous guidance of $150–$160 million. This reflects almost 220% growth over 2013 net product sales.
Additionally, the estimated 2014 results show progress in terms of reaching patients suffering from homozygous familial hypercholesterolemia, which should be reflected in higher prescription growth over 2013, thereby boosting the top line.
The Myalept Acquisition
Meanwhile, on Jan 12, 2015, Aegerion announced that it has completed the acquisition of Myalept injection from AstraZeneca (AZN). Myalept is approved in the U.S. as an adjunct to diet, as replacement therapy to treat the complications of leptin deficiency in patients suffering from congenital or acquired generalized lipodystrophy. Aegerion intends to expand the commercial opportunities for Myalept through additional regulatory filings around the world. The drug enjoys orphan drug status in the U.S., EU and Japan.
2015 Outlook
Aegerion expects 2015 global net product sales of Juxtapid in the range of $195–$215 million and that of Myalept in the range of $10–$20 million. Total 2015 net product sales expectations represent a year-over-year annual growth rate of 30%–50% (approximately). Additionally, the company expects to generate cash from operations in 2015.
2015 is expected to be a pivotal year for Aegerion in determining the growth trajectory of Juxtapid, particularly in the context of prospective approval of some PCSK9 therapies, like Amgen’s (AMGN) evolocumab and Sanofi (SNY)/Regeneron’s (REGN) alirocumab. The company’s 2015 guidance takes into account the possible loss in the number of existing and new patients upon the approval of some of these products.
Aegerion carries a Zacks Rank #3 (Hold). Amgen is a better-ranked stock carrying a Zacks Rank #1 (Strong Buy).
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