Insmed (INSM) 12th Annual Cantor Fitzgerald Global Healthcare Conference summary

Strategic updates and sales guidance

• Peak sales guidance updated to $14 billion across three commercial or late-stage products, reflecting high conviction based on new data and annual strategic planning.

• BRINSUPRI peak sales estimate raised from $5 billion to $7 billion due to strong launch performance and exceeding internal benchmarks.

• TPIP peak sales guidance increased from $2 billion to $6 billion, now covering four indications, each considered a potential blockbuster.

• ARIKAYCE maintains a $1 billion peak sales estimate, assuming successful label expansion.

• Profitability expected next year, marking a significant milestone.

BRINSUPRI launch performance and market dynamics

• Launch outperformed specialty respiratory analogs, with 2024 revenue guidance of $1.25–$1.4 billion, more than double comparable launches.

• Over 26,000 new patients on drug as of Q2, with 6,300 cumulative prescribers and increasing script depth among physicians.

• 90% payer approval rate and rapid patient access, with most receiving the drug within a week.

• Total addressable market (TAM) for bronchiectasis expected to grow organically as awareness and diagnosis rates increase.

• Persistence and compliance metrics remain strong, supporting long-term revenue projections.

Expansion opportunities and future growth

• Secondary launch targets underdiagnosed COPD and asthma patients, with a dedicated team and campaigns to drive diagnosis and funnel growth.

• Initiatives include patient and physician education, celebrity campaigns, and EMR data mining to identify undiagnosed cases.

• Once diagnosed with bronchiectasis, patients are eligible for BRINSUPRI without further clinical work.

• Ex-U.S. markets expected to contribute 10–15% of BRINSUPRI sales, with Japan and Europe as key regions; Japan shows higher efficacy in Asian patients.

• EMBARK study in Europe aims to improve patient access amid budget constraints.