Pharma firm looking to grow sales of drug in US

TYNESIDE pharma firm Shield Therapeutics says it expects to turn “cashflow positive” in the second half of its 2025 financial year as it seeks to grow sales of its lead drug in the US.

The company’s main product, which treats iron deficiency anaemia, was first launched in Europe under the Ferracru brand in 2019 but is now available in the US and other countries as Accrufer.

The Gateshead-based company had been due to publish its full year results, but delayed issuing the results, saying it needs additional time to translate its figures from US dollars into UK sterling, adding that fully audited results for FY23 will be published before May 10.

However, it gave shareholders key metrics for the year, alongside a business update for the first quarter of the new financial year. It said revenues and other income rose 2.8 times to $17.5m, and Accrufer revenue grew 3.1 times to $11.6m. Other income includes a Viatris milestone payment of $4.4m.

In the first quarter it said prescriptions reached 28,800, a 1% rise over the last quarter of 2023 and a 174% increase over the same period last year. Total US Accrufer revenue was $4m in the period with an average net selling Price of $140 per prescription.

Greg Madison, CEO of Shield Therapeutics, said: “We observed several encouraging growth signals including rising prescriptions in key states such as California and New York.”