Insmed (INSM) investor relations material

Key achievements and portfolio overview

• Market value increased from $3 billion to $30 billion over 18 months, driven by three main franchises: ARIKAYCE, Bryn Supeyri, and TPIP.

• Each franchise targets multiple indications, creating a diversified, multi-billion dollar opportunity.

• ARIKAYCE is expanding from refractory MAC to all NTM patients, potentially increasing the addressable market from 30,000 to 250,000 across the U.S., Europe, and Japan.

• Bryn Supeyri is the first approved therapy for bronchiectasis, a condition with significant unmet need.

• TPIP demonstrated best-in-class data in PAH and is being developed for additional indications, including PH-ILD, IPF, and PPF.

Launch strategy and market expansion

• Disease state awareness and physician education are central to launch strategies, leveraging learnings from ARIKAYCE for Bryn Supeyri.

• Expanded sales force and infrastructure target both community and academic pulmonologists.

• Patient identification is expected to increase as new therapies motivate more definitive diagnoses via CT scans.

• Patient support programs and a focus on frictionless access are in place to drive adherence and rapid uptake.

• Launch performance benchmarks are set against leading respiratory drugs, aiming for high double-digit million revenue in early quarters and $500–$600 million in quarters three to six.

Competitive landscape and pipeline development

• Bryn Supeyri holds a first-mover advantage; major pharma previously abandoned DPP-1 inhibitors, but renewed interest is emerging.

• Competitors include BI (phase 3 in bronchiectasis) and Chinese entrants, but current approval status provides a strong lead.

• Over 850 DPP-1 compounds are in the pipeline, with plans to target additional neutrophil-mediated diseases.

• Upcoming readouts include CRS without nasal polyps (late 2024) and HS (early 2025), with a futility analysis guiding HS trial continuation.

• TPIP is positioned as a best-in-class therapy for multiple pulmonary indications, with accelerated timelines based on prior successful global trial execution.