Key US products: Rx, market share trends: IIFL Capital Services

2 May 2023 , 10:57 AM

Key takeaways include:

• Zydus launched gTrokendi XR in January 2023 and has already captured market share (MS) of 40% for Mar’23, per latest integrated unit (IU) volumes. Apart from Zydus, Endo Pharma has also launched gTrokendi in March 2023 and has negligible market share.
• Market share in gRevlimid for Zydus/Cipla improved from 0.02%/5.6% in Q3FY23 to ~8%/15% in Q4FY23 respectively. Dr. Reddy’s market share declined from ~13% to ~4% QoQ.
• Sun’s Ilumya IU volumes are clocking 8% QoQ/30% YoY growth during Q4FY23, but grew 41% YoY for FY23. Cequa’s IU volume growth is almost flat QoQ and up 42% YoY in Q4FY23. Winlevi’s monthly TRx volumes of ~36K in March 2023 crossed its average monthly run-rate of H1FY23.
• Sun has captured ~55% MS during Q4FY23 in gPentasa, but will be impacted in near term as USFDA has escalated the non-compliance action on Mohali plant where gPentasa is manufactured.
• Sun’s MS in gAmbisome declined drastically during Q4FY23 to ~5% from ~26% in Q3FY23, as innovator’s MS improved and Aurobindo also launched its product and disrupted the market in Q4. Aurobindo’s MS in March 2023 was ~8%.
• Hikma garnered the highest MS (~17.5%) in gVascepa among generic players during Q4FY23 and moved ahead of Dr. Reddy’s MS (~16.3%). With Zydus getting USFDA approval for gVascepa, it can garner 12-13% MS and negatively impact Dr. Reddy’s; gVascepa is one of the top-5 products for Dr. Reddy’s.
• Biocon’s MS in Insulin Glargine improved during Q4FY23 to ~13%, while Cipla’s MS in Lanreotide increased QoQ from ~13.3% to ~15.5%.