KEEP IN MIND: "Avanir expects all newly hired institutional sales representatives to become fully functional by year-end 2012." "
Thanks again to Superichkid for sharing the Cowan Group (founded in 1918 with offices worldwide) Report:
Rx Growth Is Strong, Particularly In The LTC Segment:
Avanir has expanded the institutional sales team to a total of 54 representatives who
are calling on nursing homes only. Additionally, the retail sales team (comprised of
72 representatives) are spending 30% of their time calling LTC facilities as well. We
believe the focus on the institutional setting is the primary driver for the strong
growth in Nuedexta scripts. Avanir expects all newly hired institutional sales
representatives to become fully functional by year-end 2012. Therefore, we estimate
that the uptake in scripts will continue to accelerate in the coming quarters.
Penetration Is Still Low; Big Potential Remains:
It is estimated that the current number of nursing home residents approximates 1.5
million. Based on studies published by the Alzheimer’s Association, we calculate
that there are approximately 200,000 patients in nursing homes who are suffering
from pseudobulbar affect (PBA). IMS Health recorded 1,764 scripts from the LTC channel
in the week that ended November 16, 2012. The script number translates into approximately 7,500
patients receiving Nuedexta per year if assuming that each prescription is for one month and
that each patient needs 12 prescriptions per year. This number is in line with the
guidance provided by Avanir.