BridgeBio Pharma (BBIO) has received Food and Drug Administration approval for its heart drug, acoramidis, as a branded treatment called Attruby. This approval comes ahead of expectations, allowing BridgeBio to launch Attruby as a treatment for patients with transthyretin amyloid cardiomyopathy (ATTR-CM). In this condition, abnormal protein builds up on the heart, causing damage.
The drug will compete directly with Pfizer’s Vyndaqel, which generated $3.32 billion in sales last year, growing 36%. Analysts expect Vyndaqel to bring in $5.33 billion in sales this year. BridgeBio’s stock price surged 16.1% to 27.19 after the announcement, topping its 50-day and 200-day moving averages.
Analysts offer split views on the approval and landscape for ATTR-CM treatments. Some, like Wedbush analyst David Nierengarten, believe the competition will become crowded in the coming years, while others, such as Mizuho Securities analyst Salim Syed, see Attruby’s approval as a “best-case label.” The drug’s wholesale acquisition cost is slightly lower than Pfizer’s Vyndaqel at $244,500 per year.
Source: https://www.investors.com/news/technology/bridgebio-stock-bridgebio-pharma-bbio-stock-acoramidis-pfizer-vyndaqel