Bioverativ Inc (NASDAQ:BIVV) posted financial report for the fourth quarter 2017. Revenue in Q4 2017 jumped 28.3% YoY to $328.7 million. John Cox, the CEO, expressed that they are proud of their accomplishments in 2017. They increased their market leadership role in the extended half-life industry with their products ALPROLIX® and ELOCTATE® and surged revenue by 32% YoY.
The CEO of Bioverativ expressed that they established a strong clinical stage pipeline by developing internal assets like ‘BIVV001’ into a Phase 1/2a clinical study, which is advancing with patients being administered. They bought True North Therapeutics and have commenced their Phase III registrational studies for ‘BIVV009’ in cold agglutinin disease.
Cox added that as they look toward 2018 and imminent future, Sanofi offers proven capabilities and an international infrastructure, which they consider will help to fast expand access to their drugs internationally and further their objective of changing the people lives with rare blood ailments. Since its start, he strongly considered Bioverativ would establish substantial value for shareholders. Their deal with Sanofi offers remarkable value for parties who have invested in and boosted their mission.
In the U.S., product revenues surged 26.9% compared to Q4 2016 and 12.8% compared to Q3 2017. Product revenue outside the U.S. surged 30.7% compared to Q4 2016 and 9.8% compared to Q3 2017. ELOCTATE remained on a robust trajectory following a high patient retention, sustained capture of patients moving to long-acting treatments, and the market movement towards prophylactic treatment.
ALPROLIX volume surged despite competition following growing appreciation and understanding for efficacy and safety data and increased dosing education and protection. Bioverativ reported that collaboration revenues from Biovitrum AB surged $3.5 million compared to Q3 2017 following increased royalty revenue led by increased sales and new nation releases within Sobi’s territory and improved contract manufacturing revenue.