Acacia Pharma’s FDA-approved products surging forward
Acacia Pharma in Cambridge says its FDA-approved products BARHEMSYS® and BYFAVO™ are on track to meet its full year 2021 formulary acceptance goals.
The company, which also has US operations, is commercialising new products to improve the care of patients undergoing significant treatments such as surgery, other invasive procedures or cancer chemotherapy.
It says that BARHEMSYS is now on formulary at 201 institutions, against an FY2021 expectation of 300; this represents an increase of more than 80 accounts since March.
To date, the formulary success rate for BARHEMSYS continues to track in the mid-80 per cent range, exceeding original expectations.
BYFAVO is now on formulary in 47 accounts, against an FY2021 expectation of 150; this represents an increase of 40 accounts since March. To date, the formulary success rate for BYFAVO continues to track at or above that for BARHEMSYS, also exceeding original expectations
Newly appointed chief commercial officer Deb Hussain said: “My excitement in joining Acacia Pharma was based on our ability to improve the lives of patients through the successful commercialisation of BARHEMSYS and BYFAVO, and our early US launch efforts are delivering positive results.
“The rate of formulary adoption we are achieving against the backdrop of restrictions imposed by the Covid-19 pandemic is quite impressive, suggesting the significant unmet needs patients and hospitals have in this space.
“We will continue our commercial efforts in additional targeted accounts and are very confident of further formulary wins across the balance of the year.”
CEO Mike Bolinder added: “We are extremely encouraged with the acceptance of our products, including at some of the largest institutions and networks in the country.
“This is particularly noteworthy given the current hospital environment that has yet to normalise from the pandemic, resulting in significantly reduced physical access to accounts and continued delays in formulary committee reviews.
“We know that formulary adoption is the key first step in achieving consistent and growing sales pull through starting in 2022, which will allow us to build a long term, sustainable hospital products franchise, thereby creating significant value for our shareholders.”