© Reuters.
BOSTON – Ironwood Prescription drugs, Inc. (NASDAQ:IRWD), an organization specializing in gastrointestinal healthcare, has offered monetary steering for the total 12 months 2024, anticipating a high-single digit share development in LINZESS® (linaclotide) prescription demand. The Boston-based agency additionally expects to realize an adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) of over $150M for the 12 months.
The announcement comes forward of Ironwood’s presentation on the forty second Annual J.P. Morgan Healthcare Convention scheduled for Wednesday. CEO Tom McCourt expressed confidence within the firm’s strategic progress, which he believes positions Ironwood as a frontrunner within the GI healthcare sector. In accordance with McCourt, the corporate is on monitor to satisfy its 2023 U.S. web gross sales steering for LINZESS, attributing this to sturdy prescription demand.
Ironwood’s optimism for 2024 can also be supported by its GI growth pipeline, notably the addition of apraglutide, a therapy with potential for brief bowel syndrome requiring parenteral assist. The corporate anticipates LINZESS will see low-single digit share U.S. web gross sales development in 2024, alongside the high-single digit prescription demand development.
The monetary outlook for the upcoming 12 months contrasts with the 2023 steering, which included a major one-time cost of roughly $1.1B from the acquisition of VectivBio.
Ironwood’s LINZESS, the main U.S. prescription treatment for adults with irritable bowel syndrome with constipation (IBS-C) or persistent idiopathic constipation (CIC), is anticipated to take care of its class-leading formulary entry. The corporate additionally highlighted key upcoming milestones, together with topline information from Section 3 and Section 2 research for different GI remedies.
This monetary steering relies on a press launch assertion by Ironwood Prescription drugs and displays the corporate’s expectations for the 12 months forward, excluding any potential prices related to a CNP-104 possibility train. As with all forward-looking statements, these projections are topic to dangers and uncertainties which will trigger precise outcomes to vary materially.
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