9th Feb 2023 10:50
(Alliance News) - Shield Therapeutics PLC on Thursday said revenue in 2022 rose amid a jump in sales of its Accrufer iron tablets, also known as Feraccru.
The commercial stage pharmaceutical company reported a rise in 2022 revenue to GBP8.5 million from GBP1.5 million in 2021. Net product revenue of Accrufer in the US soared to GBP2.8 million from GBP100,000.
While Accrufer has been approved to treat iron deficiency in the US since 2019, last month Shield announced a sales collaboration with Pennsylvania-based peer Viatris Inc in the US, focusing on the iron tablets brand.
On Thursday, Shield said it is progressing on the implementation of the collaboration, which it explained will result in a 100-person sales team promoting the medication to over 12,000 health care professionals who write the majority of oral iron prescriptions.
Looking ahead, Shield aims to bring the medication to Canada, expecting regulatory approval in the second half of 2023.
Shield shares were 14% higher at 7.00 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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