Ian Clements, the Head of Investor Relations and Corporate Communications at Avanir Pharmaceuticals Inc. (AVNR), said the company is anticipating year-over-year growth of 45% in revenue. He was speaking at the Canaccord Genuity 34th Annual Growth Conference at the Intercontinental Hotel in Boston, Massachusetts.
Avanir Pharmaceuticals Inc. is a biopharmaceutical company focused on acquiring, developing and commercializing therapeutic products for the treatment of central nervous system disorders.
Its key approved product is Nuedexta, the first FDA-approved treatment for pseudobulbar affect (PBA), acting on sigma-1 and NMDA receptors in the brain and spinal cord. The neurologic disorder causes emotional outbursts which causes incongruent laughing and crying. The product is co-promoted with Merck & Co.
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Beyond that, Clements said Avanir has a “broad pipeline across a number of assets,” including pain, mood and behavior, and movement disorders. All are unpinned by a commercial organization and research and development.
The Nuedexta franchise is growing, Clements said, experiencing “about 9% growth” in the April, 2014 to July, 2014 time frame. In its last reported quarter, Neudexta generated $26.5 million in net revenues.
The company is building up its sales team, and expects to double its institutional representatives by the end of the summer to an estimated 160 reps. It also has 72 retail sales reps. “we feel there’s a great opportunity to grow that part,” said Clements, adding that the company anticipates growing to 141 retail representatives by early December.
The company is also gathering data on a migraine product and conducting studies in Alzheimer’s and Parkinson’s disease, as well as a major depressive disorder.
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