IRWD - Earnings call transcript Q3 2017 | Ironwood Pharmaceuticals, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the Ironwood Pharmaceuticals Q3 2017 Investor Update Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded. I'd like to introduce your host for today's conference, Ms. Kaya. Meredith

begin. may You

Meredith Kaya

thanks update. us and quarter our XXXX investor for morning, for joining third Good

release heading the slide quarter-ended as www.ironwoodpharma.com. statements as filings. in of press well statements actual update and current Risk found Safe available presentation, accompanying statements. Our the Form results crossed is the include and involve Factors statements of on can quarterly morning under slides the for materially. that in on Harbor this our risk be to of June such risks and on report and speak to and factors statement date All Web may statements. differ forward-looking these site, forward-looking SEC Today's uncertainties our and undertake wire call as we Such obligation XXXX, earlier the cause this our XX-Q future XX, discussion no A

today's Chief Officer; Executive Consylman, call Chief Chief Development Chief are and Hecht, Mark Joining Officer; Wright, Scientific Officer. Financial Officer; me Chief Interim Commercial for Chris Peter McCourt, Gina Tom Officer; Currie,

referring be will the available slides speakers Our webcast. via to

For the to of slides. to you site our now Event access those to over section Web dialing in, please like to call turn of the I'd Peter. webcast go

Peter Hecht

what believe our growth be early, we for sales, and uncontrolled million. critical morning, launched generated Meredith. we the Thanks, $XX by by total XX% brand, is Good $XXX profit third XXXX. and during and year-over-year million fixed-dose for allopurinol, year-over-year, driver in gout XX% the XX% although DUZALLO, net combination quarter the net encouraged LINZESS and strong the it franchise. of it seeing U.S. are to performance up everyone. $XXX lesinurad We Ironwood year-over-year. delivered will grew up are of Total million in revenues

has line greater than Our with revenue with of in value $X linaclotide in driving in highly a on population. strategy IIb we our source XXXX for quarter. in in Optimizing decisions cycle patient potential clinical in a of making results uncontrolled an top And product, and this the made of call. indications, increasing from to Mark large uptake which IW-XXXX Chris LINZESS see initial the We our We API LINZESS the sales blockbuster, Astellas, detail strong to linaclotide patients GERD. serving stimulators ex us, Japan, symptomatic some believe continues Phase positive in partner leading IBS-C, both will U.S. lastly, million market and like reported prioritization become further sGC select high-value trial R&D. and advancing life

have advancing XXXX. we over year, together continuing will for growth cash sorry the the the expect to now risk and top candidates propel needs patients business and catalysts potential capital, to growth of highly progress We and provide alike. we've With -- Over for that, innovative the deliver the I'd development exciting and positive products We XXXX have areas cash generating meaningful with business. each value shareholders prudent commercial during address -- reduced commercial in between and medical contribution and Further, that turn than combined opportunity upcoming that call past multiple creation will Tom line this a the like McCourt. to are us flow unmet begin to all serious we greater XXXX. several XXXX revenue impressive made continued CAGR XX% expanding XXXX, believe, allocation of to expect

Tom McCourt

everyone. morning, good and Peter, Thanks,

and chronic drive in OTC driven laxatives directly in LINZESS. progress from with is choose net an total continues leader enables expanding constipation dose by the demand pleased broader very come it continue LINZESS XX% growth, quarter. of the representing third increase during in a are difference XX-microgram of $XXX generated, The also we A category. to LINZESS was increase generated IBS-C very prescription. sales total a margins. XX-day physicians of is We to are XX% incremental driver year-on-year. patients we’ve patients. with physicians switching in to Allergan volume, million Ironwood year-on-year the and majority in from growing seeing It's use The to in for a category. LINZESS market growth XX% year-on-year, LINZESS increased a the as increase of impressive growth the The a large and profits prescriptions important made and and spectrum branded

taking least physicians category, for at over XXXX. with therapy physician expected continue To effective and X.X more come, patent constipation We patient gain to LINZESS of will by protection has large We will request more the years, continue with the LINZESS. IBS-C to LINZESS satisfaction. as prescribed five share in million years a to which than market, prescription last OTC believe, request to achieved build date, until for been laxatives high-level and -- well to grow a XXX,XXX chronic the market than by motivating patients patients as take specifically more be

that addition LINZESS highly the to abdominal and Allergan of help abdominal symptom We XX% LINZESS strong broader that aims, will Ironwood quarter, Ironwood benefits physicians daily abdominal and unrestricted and patient by a and and cycle important serve Medicare and choose physicians in IBS-C claims than LINZESS once additional and are recognize provide Two of of for including pain. and constipation, updates by for to providing associated to made in indications differentiate XX% access use patients the and coverage This with Part than renovation. in better approved with additional to will can bothersome D chronic physicians two commercial linaclotide's more Allergan believe, claims be with utility clinical some and additional payer past more motivate symptoms these including We two three health striving One bloating discomfort. population plans. near-term. LINZESS enabling life patients IBS-C treatment in further to our is request more flexibility, as first, doses. for strategy with enhancing

of by is of subtypes, standard will and and we of linaclotide additional care pill, strong of uncontrolled treatment is a XX DRX the treatment combination a with chronic dose the constipation. strategy gout. expand than the growth million the IBS-C opportunity the linaclotide the you Chris years about our believe, through DUZALLO option can to The refined suffering once to positioning with IBS excited effects formulation more maximize pain-relieving DRX the for the leveraging beyond commitment detail as cycle patients but to all in launch life take drive help release utility come. clinical patients of uncontrolled shortly, delayed recent one the team DUZALLO to fixed Second, allopurinol new as brand patients gout. and for the day of lesinurad for speaks option,

millions turn hearing month the steady to I'll the and the symptomatic new $XXX of the more the to care, market access. to first in from secure Mark? potential and broad annual physicians Based of patients, advancement launch years million. help motivate further With peak are encouraging competition the over in feedback can for limited U.S. on we many with treatment patients field as franchise We growth highly DUZALLO the the drive gout patients, uncontrolled since the continue than number We options pair ZURAMPIC seek now in very identify patients. call appropriate we provide come that, can and sales to believe, for clear through of large

Mark Currie

morning, everyone, Good and thanks Tom.

of successes recent made R&D few R&D with Wright and our morning, pipeline progress key allowing us linaclotide, GC-C, programs, of expertise, and the string Chris portfolio across our in acids of will pipeline We and be updates areas prioritize sGC. and IW-XXXX, our in IW-XXXX IW-XXXX. I bile our exciting sharing to refine have This a efforts

Some a development Chief spent of biopharmaceutical Ironwood you the part leading he Chris XX was our of Vertex. of years and practicing has in and as kalydeco Chris year at know Development over which this may neurologist, is industry academia, spent Officer. joined earlier already,

significant on We already he to him a are and thrilled making impact. have positive board, is

to to over you to the going through take I’m linaclotide Chris XXXX. and Now turn call

Chris Wright

Thanks, Mark, everyone. morning, and good

we optimizing linaclotide As made substantial further Tom strategy. our mentioned, in cycle progress Allergan quarter this past and life

pursuing path a LINZESS, visceral a which relieving a agent can this single we for subtypes. non-opioid, With are DRX expect IBS III our with to that And second, identified as intended achieve development cycle without suffering advancing advance abdominal objectives next from trial patients life obtain now pain we and we all additional we program. we Phase discontinuing efforts claims on and symptom year. initiate effectively refined cost believe we DRX to linaclotide to by shortened more First, plan quickly key our strategy,

IW-XXXX. to Moving

hypothesis bile is a The patient this of millions track potential engage Mark. look moving our back advance very patients to get into represents FDA goal large continuing trial uncontrolled Phase drug validated with I'll program to key new design need. this population. in option We to treatment in in pleased and clear our III strongly to on We are from We the team GERD, IIb demonstrated and trials on with results which believe and Phase effect. trial endpoints. expeditiously is program to a with over to address turn of uncontrolled the significant symptomatic the XXXX disease a the GERD the a highly opportunity bringing that, to potential forward With with call a the

Mark Currie

with sGC stimulators. IW-XXXX, initiated two lead We sGC now stimulator. II I'll our Thanks, a Chris. Phase trials turn recently to

enroll trial protect evaluate dose patient ratio, to to vascular underlying The of disease. transplantation, The is endpoint would the go that safety help leading patients blood was treatments end-stage diabetic two require pathophysiology II the function fibrosis. expected disease. XXXX of world, doses in on million reducing an The despite of there few seeking is signaling nephropathy. affect ability first nephropathy is oxide to This II function, with nitric and assess target around urinary cause in with kidney to renal are is patients. and diabetic and of nephropathy. and renal that progression, in X creatinine chronic to improving to significantly dialysis albumin inflammation believe, is Phase the kidney renal the to XXX a of the options efficacy XXXX, estimated designed regulation, form primary Today continue diabetic inhibiting and to ranging indicator kidney to tissue approximately the Americans the Diabetic patients therapeutic limited estimated available Phase patients flow trial nephropathy, to trial We of an millions slow disease. including boost or

II Phase and in areas evaluate that HFpEF. highly to are associated and and endpoint is symptomatic status with XXX with the failure to functional it's HFpEF, around key patients test. condition, to due obesity capacity, is increasing the are functional high fibrosis, aging enroll million X with a second HFpEF. patients with of by to leading dose improvements increasing X and The a has Americans, approximately the designed there tolerance, in on are estimated II of condition blood of effect to an trial endpoint to six-minute Currently, have. or patients and compromised tissues therapies millions is fraction The exercise rates an and by of no diabetes. in inflammation doses such often treat is to Phase evaluate HFpEF, peak and mortality. affect believe, vascular walk heart secondary key comorbid XXXX and to HFpEF of primary expected a reducing evaluate flow provide as XXXX -- quality trial study patients This third the the in of and world, improvement population XXXX, efficacy seeking ejection including ranging to A the HFpEF potential exercise is also HFpEF. which, approved safety a offered impact clinical type in on life, seeking We multi-dimensional preserved key morbidity patients. latter and incidences rise of The three

IW-XXXX. believe more want under Although turn than expected manifestation, study enrolling other data I endpoints to stimulator, clinical expect in Phase each XXXX provide both [technical in unique we sGC our clinical slowly the disease for achalasia is study to stage now population in has to The in patient involved and XXXX. IIa difficulty]. improvement we now potential we

cell people millions States describe time why efforts in XX a role We is the an we sGC a disease, can the approximately new cell. are this play devastating United treatment help visual of this Slide sickle first advancing is indication, disease that people the our sickle IW-XXXX in into XXX,XXX which world. an are think throughout about important the and in And affects like IW-XXXX a disease. to talking provides we of stimulator

to IW-XXXX potential red the has vascular diminish reduce IW-XXXX ischemia, stimulating treat and believe multiple cell blood inflammation. the we aspects pathway, could disease believe Specifically, cell sickling decrease By pathophysiology. sGC of we sickle

We trial the that underway, cell disease following plan II expect provide to we believe needed our Preparations provide to financials. towards and this innovation intractable study continuing I'll trial sickle look therapeutic much for In from challenging on Gina patients in to over study to are of details could initiate before some of in call candidates most that, initiation. a historically Phase XXXX more we summary, year-end. them discuss to medicine, unmet needs design the for turn advance commercialization. the suffering forward to With our and and Consylman

Gina Consylman

the third OUS morning, last including quarter I'll and financial performance, everyone. XXXX Thanks, minutes LINZESS Good spend contribution Mark. financials, few our reviewing guidance.

press in statements financial can release. the You detailed find our

year-over-year. third nicely, the quarter quarter, LINZESS an also year-over-year to XX% XX% volumes up said, As in the with strong sales net LINZESS in in increase grew $XXX million. Tom Total demand demonstrated third

the a focus Our $XXX the to greater With quarter. U.S. at of earlier, as remains primarily line. in as OUS time continue a generated net us is in agreement collaboration during exceed consumer revenue Peter volume over targeted XXXX, rate, our of a total to uptake $XX.X volume in in net investment in recognize we of with continued and demand contribution quarters over third by with this and the million sell a sale. Astellas commercial and expect in at strong and the quarter revenue to to underpenetrated expect becoming primary source in API linaclotide meaningful category. million the highlighted API of revenue, on recognized XX% XX% driving them early time for into top margin The price to growth brand the time profits Japan. a expand revenue and we resulting of LINZESS Ironwood's Astellas, Per million to LINZESS grow X through third large margin strong contractually growth, first plus sales in defined in from approximately to We supply revenue commercial XXXX. brand we we $X.X realized

an Astellas fluctuate, important contributor may growing expect line. top to sales API While become and to we them to Ironwood's

As deduct sales you to linaclotide their us. for know, from Astellas API royalty payments

from in to We XX%. $XX million full in compared operating the $XXX revenue third quarter API the of our reflect total years, XXXX we next of expenses third for a R&D relationship of expenses million growth rate few in of million least in Total expect For at revenue in $XX million million $XX the XXXX, Ironwood Astellas. expenses. $XX of to quarter and SG&A the quarter sales third the recorded including were value with XXXX, in

loss expect now operations approval million payment net million, cash used million. or $XXX $X.XX the $XX quarter AstraZeneca share. $XXX resulted amortization our noncash non-GAAP $XXX Turning three XXXX adjustments hedges warrants, to measures: non-GAAP intangible our of non-GAAP cash. We DUZALLO less convertible quarter. the million be mark-to-market of the paid to at in the the from $XX the for $X the or the less per These of This to in and approximately was value arrive disclosures. per for than We or the related adjustment contingent to and change use ended of net fair milestone three and and during cash net share of exclude per upon assets note third We includes million $XX acquired quarter in share. than million with GAAP million $X.XX adjustments loss $XX a consideration. the to operations million in for $X.XX up was the increase

$XXX $XXX to low million We $XXX expect of marketing the our range, sales are the middle to and XXXX be million in and the R&D be range. be SG&A guidance, million of also million expense in $XXX $XXX now the low to to LINZESS middle of expense range, to to to end tightening in end and middle the expenses to million expense $XXX million

top to We our continued continue growth, contribution million. be close investment interest to and focused reiterating expanding prioritized our strong expect net by expense mid I'll line that in $XX approximately in late stage operator are turn the Q&A I'll to that, to With propel positive it the of to begin Ironwood XXXX. expected assets the over and cash call. to flow portion commercial

Operator

comes the And Instructions] from our from of line first question Bank [Operator Ying of Huang America.

Your line open. is now

Ying Huang

broadly morning. are high the around sales payers comment based it made and gives And you talk Good rate including in Thanks wondering for for for XXXX little you projection speaking, PDMs and at I peak my for big can your sounds can secondly, comments LINZESS you the bullish bit insurance failure provide then, diabetic Hi. of if two for the Yesterday, in resistant growth about, you specifically like on questions. other a taking that indication around and nephropathy? you. the formulary the very was the the Allegan lastly, in single-digit. not future given partner the LINZESS, LINZESS? your guys access indications heart What the confidence more Thank And company? major hypertension XXXX. some

Peter Hecht

can the two? Tom, Thanks. you take first

Tom McCourt

Sure.

we by made As Bill single-digit with we that at single-digit $X to regard the much. billion, high a growth, far the as growth rate I to Meury a are comment of [ph] differ yesterday, not little off think but growth

to Ironwood well fully I in billion and management. life LINZESS at $X when beyond committed are as that fully fully of supportive there we strong I market in look that to the very think XXXX investing mode. growth be capture, cycle is a remember growth, that shows aligned and big thing of that to important out we fact a the LINZESS are there's to continues the

there's informed we be out of rate move forward. is of lot a there think as growth will of So I better variables we question, but a this that

far coverage, payer key a As of mix. we our part is know, -- as as marketing that you

is of payer docs, promoting driver at as industry-leading just access the And in but this the obviously barrier growth. really we to access, growth far what long-term been our really demand As but invest not educating which brand. the any huge we we of payer overall in patients have key of and invest has a elimination point, a DTC, access what to through

I like at. are we where So

to fully the are we are we aligned we and Mark far think as we the with as brand the what it. aligned think regard to LINZESS grow I we can are And of I level potential very commitment be, question. making will as think long-term second the take

Mark Currie

think Yes, very bullish I are reflects excitement we patient positive limited large nature for large and with indication option think simulator HFpEF. population. and resistant an that is really uniquely a our discontinuation where on the underlying pathophysiology hypertension by sGC These very addressed treatment diabetic and nephropathy

excited and do. we what think we focusing reflection to are that’s of we of resource on those. the allocation just allocation our drug and our this So pathophysiology be really And asset the more as examine can

Meredith Kaya

Operator, the go we can next to question.

Operator

from our Peaker from next question comes Cowen. Boris And

open. is now line Your

Boris Peaker

Maybe will on over Great. factoring what years saying? question it expansions specifically, want the prior the these of gives what perhaps including growth you some label of they’re to next to are better few LINZESS from understand kind you disconnect? questions. not relative Is that maybe Allergan is Thank I just just for you initially follow-up questions, taking my confidence the I greater in in? that

Peter Hecht

I do see Bill I -- think think ongoing of are assumptions our in we Boris, think, growth I Yes, DTC his forecast campaign. his place, has there and

to we very are next early are campaign think a you going innovative year. I -- see

additional with discomfort is more abdominal abdominal their do think effective value the in other we’ve bloating far seen is know the and our and pain with hand to they these identified symptom than of I do consumers and raise think LINZESS. past particularly I we patients therapy, what the is to What motivate ability claims. piece more demand

bullish seen of So the bit I performance think DTC. we’ve we more are probably what in a on certainly

additional whether XXXX. that will symptoms other piece valued is, the they be prior abdominal think coming these I to

Tom McCourt

is, against is I'd add What the game. then forecast the completely thing to the for only really got aligned and matters brand on we investment play are today. the we future The

both and how this behind investing about grow long-term bullish near fully We it. the of we to very Then prospects will and are long-term it we see and our are plays opportunity the it out. brand for

Boris Peaker

follow-up to on that. So just

in So, for in year, increase LINZESS this XX% a scripts revenue. note a you and growth XX%

just just to additional So discounts, the due timing this also -- relative are curious or I’m what the let's year a to growth revenue and is say, order year-ago?

Peter Hecht

all, an size I prescription of volume saw XX% just I is it Well, an And increase important this because of overall not it's TRxs, I overall think, think, recognize just volume. in isn't to itself. it's growing we the -- first think we've seen increased --

have is place to to an in five very and year be a So XX% increase, be. impressive

are now at right our I So like we with demand where growth.

things with from will The regard fluctuate to other quarter-to-quarter. price,

I to taken we from trade-off the value bottom historically, see and over are from forward, fluctuate price from the price. strong benefited making think line we seen sure increases is, we with look but make we’ve we modest And, price course, time-to-time, we’ve the access. always broad does payer and -- This proposition a as still benefit maintain of we that time. a

you is where really going our to growth, we For which got really is demand long-term making a constantly investments big, this decisions growth come to to have support are that market from. and

Boris Peaker

curious, go? in And the for of sales you it's and DUZALLO launch relative How Great. last your anticipate I'm gout. what’s expectations question to ZURAMPIC? to do my just really DUZALLO

Peter Hecht

a seen Just everybody, to continuing better. do hey, and in them they people XX has here these workhorse little the got been us now controlled patients. these that particularly, to as same complacent, We’ve bit year say, aren't how to flutter, them been I ZURAMPIC. lot, remind which manage market They’ve you learnt always managing a the for are required a years, push to we've We’ve DUZALLO. a for out mean, physicians with to the

will the be then and making take is combination go the XXX ZURAMPIC, they monotherapy get of where one will the is they’re patient been concern Now if that which not to warning and to am allopurinol, the table. obstacles and to renal risk? we’ve they’re the with in they allopurinol off this tox is choice, at where their that the with market forget I putting takes what my And next the wrestling fixed-dose

got market a is, one seen in co-pay only only we’ve move you’ve where far a now the to work this effective. of see pill, nice once And really, scripts so a weeks, one that's as got they but week need So of clearly do saw it's we’ve twice prescriber we’ve to of what as day, been bump, different a lot therapy. as couple a to drug. And but we a as place and to far here in more the be continuing effective a physicians

go fact that are something to it's but going how I we here think all alone the see, to is we to that think promotionally thoughtful are be going where to like I be market. with how forward. to of next, is we period think really Boris, really very achievable. is time, for invest the I extended the sensitive an And we DUZALLO I -- we -- And moving the we need piece that inform regard overall

X% lot see a Keep as we population think learn got X% mind, as somewhere need advancement get and I the lot an this patient of to sees in we and of certainly do a but the to we’ve still between in to everybody a million. -- care, $XXX peak in there. sales DUZALLO and a marketplace, we

think quite the I I this achievable. it's I when market, look at at brand, look So

Boris Peaker

Great. Thank much you taking questions. very for my

Operator

next from Meacham our question Barclays. And you. Geoff Thank from comes

is open. Your now line

Paul Choi

Hi, congratulations for quarter everyone. results. you Good filling taking Thank Geoff. Choi on in the It's questions morning. for and Paul our

it's it's historical regards to any but -- of would there early be being increased with, evidence commercial taken So and just provide any you to DUZALLO, I’ve start based feedback are with results, seeing one drugs metrics or separately the I you two and to stage appreciated? relative on recognize could question adherence

Peter Hecht

saw seeing we high early to DUZALLO. refill the we you And Yes, it's is we strong -- ZURAMPIC. with about rates are are -- can days very What with regard seeing particularly are ZURAMPIC tell adherence. I

expect would with these it's So like at the who pill believe eliminated an some to burden probably have I certainly when probably that to easy are good disorders. hard but have this other drug They think to taking not have DUZALLO, and I of multiple take therapies. that you metabolic patients least

stronger the in thing think, I've a about of step I mind, ZURAMPIC. rides will the And I the XX% field how DUZALLO beyond be think had the such supportive me most XX% that to in prescriber XXX, keep just striking allopurinol which and a logical it next from of is but sees adherence, couple the it's is is different market. to of

So -- goal. to of are of not those that people and half

seen So think it's far. a encouraged really we’ve what so logical are next step. very I And we by

Paul Choi

from and can last questions Great. couple any And or you a you design share endpoints regarding your it clinical agency XXXX. Since of for feedback pipeline about any color is you FDA on if anything incremental had the we that thinking call, the could, have could Mark, there? maybe starting trial how with add

Chris Wright

question. this take I'll Chris. it's So

clinical looked in much results a we and detail the are XXXX. it's data are So excited -- that really been important seeing. consistent it's and And very effect we’ve for at about the we

to hard, is year. working now have this And very beginning meetings the the forward next that of can. right We the priority top are move as at quickly for planned are we teams as FDA we this

the So be detail and our and will of we year anticipate agency having -- next endpoints CMC around in like. discussions with the doing the in more first we half

II plan additional haven't at at of the but feedback, we getting will end now, of year. starting the of meetings we end beginning Phase that right So of received on series Phase II, next a

Paul Choi

Should primarily thinking regard with stage New a maybe about XXXX, on addressable we symptomatic think as patients allowing eligible? the being then, maybe here? potentially being stratification earlier less as for HFpEF one you by And Heart great. stage Okay, to patients at the trial. later Association the Are York or about opportunity

Chris Wright

Yes.

So will forward. we more we those details designs as I on think give move

study now, just us think getting going. right and are for that I initiated we

least effect. at -- moderate For mild so patients, clinical an focus impact and on design, see we an tend not we to that can on much so more

Paul Choi

our Great. Thanks the and congrats quarter. taking questions for on

Chris Wright

you. Thank

Operator

All right. from And our Rubin next Sachs. question comes Goldman Jami from

Your line open. is now

Divya Harikesh

product? for Hi. behalf of on and with level with this you differentiation? on time additional shortened Is decision have follow on it pursue This drove FDA for what Jami just a I claim, abdominal And you with this discussions the to DRX was change cycle does based the Has on the life look versus soon at versus think there with sorry, And on the is topic. Harikesh really the claims? same there are additional my path. lastly, questions. claim taking mid-XXXXs? claims. Thanks what So, IP have our development a -- is would Rubin. DRX? opportunity go taken all required And I the questions on out a Divya the what claim question additional this is just these get How still stated at it to can question LINZESS a on not four it on of

Peter Hecht

the we do. we last the see lost one, have may number will think And at what first and two can least We I three.

want we to Mark, start? how Let's did. you see

Mark Currie

Yes, start. I'll

then into we path to towards with symptoms working our And a FDA, pain. being IBS DRX a And really do to a population for us the And that to also So discussions bring I much larger that. in at for we with we’ve could do abdominal our when it, we been able overall it faster able label. expand long forward into what is with time allows think define we and looked were bringing to LINZESS. go that could the the

get it at wanted we So it and down -- get we we LINZESS what really we the allocation, thought could looked we to in forward for came resource when faster.

versus exactly but occur, III ready to the focusing IBS being that start then not we as there that forward release, to -- we when then comment in are our on we address on We a the decision drove to year, And next population, indicated that really excitement expect there press study study. Phase the larger the much -- DRX. DRX, we will able effort

Peter Hecht

DRX? you and as Can are IP you talk you about can -- as of long differentiation going,

Chris Wright

Yes.

DRX, out with and a program. life product of takes beyond bring mid-XXXX to really highly suggesting, a is IP new really Peter opportunity. we whole to as our differentiated or it It So

part with. it the DRX what that in saw how we DRX study and our look is at that’s of again, and that strong So, that, we data we reported differentiation previous

Peter Hecht

do Divya, all? cover them we

Divya Harikesh

an Yes. to versus opportunity that I referring pursue follow-on you actually the when a changes how was DRX product. additional claim

context -- So would to has talking claim like you the just a just and you’ve And anything Nexium versus new or an product? changed made DRX in additional reference at it opportunity, that it having more now on that all? Prilosec, so being the be

Chris Wright

additional symptoms new forms be XX million let's abdominal because a IBS, of DRX added product. basically other to all So pain and on This abdominal going new product. the across And relief is indication our probably patients are clear. to we is we focus of set.

to with anybody IBS, importantly patients have set. XX it the is is to. add we associated fact of have indication in which that this be that’s have today, million and many that DRX be could currently those added more constipation that can pain we So IBS-C pain But having basically abdominal still chronic don’t lower drug our I abdominal of people the could

So as about pain. a particularly DRX for a discomfort. the the with patients They also those and is abdominal And pain. in clearly, improvement know claims many anything utility to identify face the Mark abdominal mentioned, for have challenge to tremendous don’t of we I bloating two us. additional we of importance abdominal opportunity differentiator long big to identify as able The with broadly time. symptoms, talking profile versus is been this benefits, marketplace our else comment is patient growth, strengthens tremendous LINZESS this we’ve What on it's which for the dramatically believe, and benefiting is the abdominal drive of the as symptoms. want provides the drug, the going clinical And to those particularly clinical be far we patient. to speak and the FDA to that behind

campaigns direct-to-consumer value patient and -- communicate can patients. As that we evolve far the we and about will how think ability our to to motivate our the with as continue

DRX abdominal is that the and focus out the near-term, category. So which creator to done to in the And accelerate I on want us, the the this for to addition also time team symptoms -- in that biggest us line. in importance the of front value has of understate this don’t

Divya Harikesh

Thank Great. you so much.

Operator

from Thank Anupam from our Rama you. next question JPMorgan. And comes

open. now is line Your

Anupam Rama

Hey, guys.

here following quick question one. a last the on Just

for the would out the about is broadening indication standpoint? little XXXX, go clinical indication the guess, our confused a are how long-term So was confused I’m extend from IP the a singular would that -- I’m just DRX understanding development like guess, to of focus? versus that life I’m a -- little constipation DRX I suggested. do But about understand a what a the how more prior potentially cycle take prior question this you little management of -- still I I about like confused? just little And alone. a still

Mark Currie

this is Anupam, Mark. Yes.

yes, I Tom patient right DRX, of that think, it's indicate, currently is through other other which, opportunity for expand out again, great So, improving IBS, we still can as forms a now view -- outcome. indications, we

then go patients let's that pain. LINZESS relative symptom current from IBS that and the quickly think it of we the so symptoms for accelerating say, those okay, when to can, LINZESS at have IR, constipation value into really look and the of and forms you expand DRX allowed when as certainly for the sooner, that forward let's on out and IBS, get the they I creation weighing with really abdominal abdominal to getting thing other advantage label that us The still can we that suffering are other are be without

Chris Wright

objective reason amplify had to primary deliver make clear benefit. to to we encompass wanted we on will -- saw. we The benefit, that colon DRX. think the are the DRX we developed That this why amplify we sure want more is are we that to DRX just with drug -- was the which into I pain the we not pain

and that drug. here that still a those have So it on it's we the say, with drug. how can opportunity is combine we that the within DRX you lot still and of DRX, which were take to an to the IBS-C utility more performance performance, two broadens treatments we the clinical of and DRX efficient do makes focusing We believe there say really the could strengthen the clinical patients

away not that clinical do how we IBS the running are productive we expand population way in are figure efficient treat most population, from trying out the it's effectively that to utility. we the and So most

that’s we, So on how kind of -- this, we landed Anupam.

Anupam Rama

for taking question. Thanks my Great.

Operator

Morgan next our from And David for Instructions] question [Operator Stanley. Lebowitz comes

Sara Slifka

This is for Sara my taking for David. question. Slifka Thanks

on of Another litigation? IP the the are? lawsuits, you how situation Can discontinuation. any the IP current status many and What’s update with apparent there, the provide about are in DRX question they process where

Peter Hecht

-- intend have certainly, don’t the Yes, we acknowledge into that. out have strong LINZESS. to give believe, very with Obviously, we we We ANDA are several current we that we XXXXs that filings. we details a protect IP on

Sara Slifka

it. All you. right. Thank Got

Operator

queue. your no this remarks. I’m to time, at And showing turn to would questions like I over further in any the for call further the host back

Peter Hecht

Thank you the thank your for very appreciate and Stephanie, We hosting call much, all for today. you time.

here be throughout will We day. the

Thanks, you get day. everybody. follow-up with Meredith. touch please questions, in have great If a Have

Operator

This your participation thank you in the today’s conference. for concludes gentlemen, and Ladies program.

a may great disconnect. now day. have You Everyone

Ironwood Pharmaceuticals (IRWD) 4 Nov 172017 Q3 Earnings call transcript