Camurus (CAMX) Jefferies London Healthcare Conference 2025 summary

Pipeline and product development

• CAM2056, a once-monthly semaglutide, showed strong efficacy and tolerability in a head-to-head phase I-B study versus Wegovy, with notable weight loss and A1C reduction in patients with BMI 27–39.9.

• Plans for phase II-B include longer study duration and potentially higher doses, with full data expected mid to early next year.

• Strategic partnership with Eli Lilly covers up to four cardiometabolic programs, complementing internal GLP-1 development.

Commercial performance and market dynamics

• Brixadi, a long-acting injectable for opioid use disorder, is gaining traction in the US, especially in state prison systems, despite earlier federal funding restrictions.

• Market share for Brixadi reached 30% in the long-acting injectable segment, with focus on converting daily medication patients for further growth.

• Buvidal, the ex-US brand, faced growth slowdown in the UK due to delayed government funding but remains strong in Australia and the Nordics, with potential to reach 50% market share in Australia.

Regulatory and clinical milestones

• Octase (CAM2029), a long-acting octreotide, received EU and UK approvals; US resubmission is planned soon, with potential FDA decision in H1 next year.

• Early launch feedback in Germany for Octase is positive, with strong prescriber interest.

• The phase III SORENTO study in neuroendocrine tumors was delayed to mid-late 2026, seen as a positive sign for progression-free survival outcomes.

• The trial is powered for a 35% treatment difference, with confidence in achieving statistical significance even at 25%.