Ianalumab is a monoclonal antibody commercialized by Novartis, with a leading Phase III program in Sicca Syndrome (Sjogren). According to Globaldata, it is involved in 28 clinical trials, of which 4 were completed, 18 are ongoing, 1 is planned, and 5 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Ianalumab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Ianalumab is expected to reach an annual total of $100 mn by 2039 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.
Ianalumab Overview
Ianalumab is under development for the treatment of autoimmune hepatitis, primary Sjogren's syndrome, systemic lupus erythematosus, diffuse cutaneous systemic sclerosis, rheumatoid arthritis, B-Cell Non-Hodgkin Lymphomas including diffuse large B-cell lymphoma, follicular lymphoma (FL), marginal zone lymphoma (MZL), mantle cell lymphoma (MCL), autoimmune hemolytic anemia, hidradenitis suppurativa, primary immune thrombocytopenia and lupus nephritis. The therapeutic candidate is administered through subcutaneous and intravenous routes. It is a fully human IgG1/k mAb with a dual mode of action targeting B-cell lysis and by targeting BAFF receptor (BAFF-R). The therapeutic candidate is based on HuCAL (human combinatorial antibody library) technology. It is a new molecular entity (NME).
The drug candidate was also under development for the treatment of relapsed or refractory chronic lymphocytic leukemia, chronic lymphocytic leukemia, pemphigus vulgaris, idiopathic pulmonary fibrosis and relapsing-remitting multiple sclerosis (RRMS).
Novartis Overview
Novartis is a healthcare company that focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical products and eye care products. It provides drugs for the treatment of cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, hematologic diseases, solid tumors, immune disorders, and infections, among others. Novartis conducts research in various disease areas through the BioMedical Research division. The company operates through a network of subsidiaries and offices across the Americas, Europe, the Middle East, Africa and Asia-Pacific. Novartis is headquartered in Basel, Switzerland.
The company reported revenues of (US Dollars) US$46,660 million for the fiscal year ended December 2023 (FY2023), an increase of 7.6% over FY2022. In FY2023, the company’s operating margin was 20.5%, compared to an operating margin of 18% in FY2022. In FY2023, the company recorded a net margin of 31.8%, compared to a net margin of 16% in FY2022.
The company reported revenues of US$12,872 million for the second quarter ended June 2024, an increase of 6.2% over the previous quarter.
For a complete picture of Ianalumab’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.
