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Last week, October 19, GenScript announced that its subsidiary Legend Biologics BCMA CAR-T therapy Carvykti had sales of $55 million
in the third quarter.
It is worth noting that Carvykti was approved by the FDA on February 28 this year, with sales of $24 million in the second quarter, equivalent to more than doubling the growth volume, greatly exceeding market expectations, and the stock price rose 14%
on the same day.
Legend Bio owns 70% of Carvykti Greater China and 50% overseas
.
The legendary creature Carvykti sold about 570 million yuan
in the United States in two quarters.
Judging from the sales of Novartis' Kymriah and Gilead's Yescarta in the United States last year, even though Carvykti's pricing (465,000 US dollars/needle) is higher than Gilead's Yescarta (373,000 US dollars/needle), it still successfully grabbed about 10% of the cell therapy market share
.
Successful commercialization makes people wonder whether CAR-T in the domestic market can deliver the same report card
.
Domestic CAR-T market
Domestic CAR-T market In China, the prices of Fosun Kate's Yikaida and JW Therapeuta were RMB1.
2 million and RMB1.
29 million/needle respectively, and since both were listed in 2021, they achieved sales of about RMB100 million and RMB30.
797 million respectively
.
In the first half of 2022, JW Therapeutics issued 77 Carteyda prescriptions, which translates into sales of about 66 million yuan
.
Even if Carvykt only receives 50% of overseas benefits close to 300 million yuan, JW Therapeutics sales still seem to be far
from it.
From common sense, selling a 1.
2 million yuan drug in China is not an easy problem
to solve.
Although Fosun Kite listed Yikaida in 44 provinces and cities in urban preferential insurance and more than 50 commercial insurances, the number of people receiving treatment is still far lower than in the United States
.
The payment problem of high-priced drugs is difficult and dangerous in China, and it is unrealistic
to rely on "Huimin Insurance" and commercial insurance to turn over all market sales.
In addition, Tenoda and ikaidyne are both CD19-targeting CAR-T, and their current indications are patients with relapsed or refractory large B-cell lymphoma (r/r LBCL), which has formed direct head-on competition
to a certain extent.
In contrast, patients with relapsed or refractory multiple myeloma (R/R MM) are different from Yescarta and Kymriah in the United States, and only the same as Bluebird's Abecma, which reduces the competitive situation
to a certain extent.
Most of the targets of CAR-T products currently in the clinical stage of research and development in China are CD19 and BCMA, of which there are no less than 40 pipelines under research, accounting for more than 70%.
In addition to the two CD19 CAR-T models already on the market, NMPA has also accepted the new drug application of BCMA CAR-T therapy Zevoki Olencel injection from CARsgen Pharmaceutical, which is expected to be available for sale
soon.
Coupled with the BCMA CAR-T jointly developed by Reindeer Biologics and Innovent Biologics, and the domestic marketing promotion of the legendary Carvykt, the future domestic CD19 and BCMA CAR-T are almost saturated
.
.
Extended reading: The second domestic BCMA-CAR-T declared for listing
brief summary
brief summary The research and development of CAR-T itself has the characteristics of high complexity, high cost and high risk, if there is no own differentiated advantage, coupled with high-priced drugs + difficult to market + fierce competition in target homogeneity, the commercialization of domestic CAR-T in the future has created a dead situation
in the commercialization of domestic CAR-T in the future.
The remaining large number of clinical-stage homogenized targets CAR-T in China are almost difficult to successfully market under the CDE new policy, and even if they are listed, their sales are not optimistic, and a large part of the products will die
.
.
The practice of legendary biology avoids domestic homogeneous competition, licenses products overseas, and uses the commercialization capabilities of big pharmaceutical companies to make up for their own shortcomings, which is currently a more correct way
to avoid "involution".
In addition to the legend, CARsgen is also building a production plant in the United States, significantly increasing its CAR-T production capacity in the United States, and being able to produce additional production capacity of autologous CAR-T for 700 patients per year, fully preparing
for future overseas sales.
Resources:
Resources:
1.
https://xueqiu.
com/9907188315/233079209?share_type=weixin&data_type=link&data_model=sd&fix_uid=3040289098
https://xueqiu.
com/9907188315/233079209?share_type=weixin&data_type=link&data_model=sd&fix_uid=3040289098
2.
https://mp.
weixin.
qq.
com/s/FRVok3UIiciEQGTZWBT-gg
https://mp.
weixin.
qq.
com/s/FRVok3UIiciEQGTZWBT-gg
Resources:
Resources:
1.
