Ralinepag is a small molecule commercialized by United Therapeutics, with a leading Phase III program in Pulmonary Arterial Hypertension. According to Globaldata, it is involved in 11 clinical trials, of which 8 were completed, 2 are ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Ralinepag’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Ralinepag is expected to reach an annual total of $378 mn by 2035 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Ralinepag Overview
Ralinepag (APD-811) is under development for the treatment of pulmonary arterial hypertension (PAH). It is a next-generation drug that is administered through oral route. It acts by targeting PGI2 receptor. It is developed based on GPCR-based drug discovery technology.
United Therapeutics Overview
United Therapeutics develops and commercializes products for the treatment of cardiovascular disorders, particularly pulmonary arterial hypertension and infectious diseases. The company’s product portfolio includes prostacyclin analogs including Remodulin (treprostinil) injection; Tyvaso (treprostinil) inhalation solution; and Orenitram (treprostinil). Adcirca (tadalafil) is a phosphodiesterase type 5 (PDE-5) inhibitor and Unituxin (dinutuximab), a monoclonal antibody for oncologic applications, are the other products. Its product candidates include monoclonal antibodies (mAbs), glycobiology antiviral agents, and cell-based therapies. The company also develops engineered lungs for transplantation in the pre-clinical stage. It manufactures products in its facility in Silver Spring, Maryland. It markets its products in the US, Europe, South America, and Israel. United Therapeutics is headquartered in Silver Spring, Maryland, the US.
The company reported revenues of (US Dollars) US$2,327.5 million for the fiscal year ended December 2023 (FY2023), an increase of 20.2% over FY2022. In FY2023, the company’s operating margin was 50.9%, compared to an operating margin of 50.5% in FY2022. In FY2023, the company recorded a net margin of 42.3%, compared to a net margin of 37.6% in FY2022.
The company reported revenues of US$677.7 million for the first quarter ended March 2024, an increase of 10.2% over the previous quarter.
For a complete picture of Ralinepag’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
