Morning Coffee: Vyvgart Tracking Survey Suggests Q2 Beat, snMG Launching Well

研报英文原文证据摘录

Morning Coffee: Vyvgart Tracking Survey Suggests Q2 Beat, snMG Launching Well

ppears concentrated in IVIg-refractory patients, with 76% of

physicians selecting patients insufficiently controlled with IVIg as the group receiving theMarket Cap $53.8B | €47.1B

largest proportion of Vyvgart Hytrulo. Encouragingly, IVIg switching continues to move higher,

Click here for the full company update from

with 17% of patients on IVIg switched to Hytrulo in Q2 vs. 15% in Q1, and projected to reach 22%

our latest quarterly report.

in 3 months, 29% in 1 year, and 34% in 3 years.

We also asked for the first time what proportion of switching from Vyvgart back to IVIg occurs,

and 21% of physicians noted they switch patients back to IVIg due to lack of efficacy. This is

roughly consistent with the ~30% cited by mgmt for Vyvgart refractory patients.

In gMG, physicians are starting to see share consolidate at 27-28% for the Vyvgart franchise,

as the market reaches steady state and new competitors emerge that are taking modest

share. Growth continues to be driven mainly by PFS, and patient preference between IV

and SC is the primary driver of formulation choice for 77% of physicians. 69% of physicians

prescribe Vyvgart/Vyvgart Hytrulo primarily to patients insufficiently treated by steroids/ISTs,

supporting its role as a 2L SOC.

Please open pdf to read full report and view complete survey data in slide deck.

UCB's Rystiggo (FcRn, QW SC) has a more modest 3% share in Q2 (flat q/q), and is expected

to grow to 4% in 3 mos and 5% in 1 yr, while UCB's Zilbrysq (C5 inh) was used in 3% (+1% q/q)

of patients in Q2 and should reach 3% in 3 mos and 4% in 1 yr. In turn, AZN's Ultomiris/Soliris

achieved 10% share (flat q/q), and this should remain steady over 1 year.