Kevin Gorman, CEO of Neurocrine Biosciences, Inc. (NBIX), says the company has partnered with AbbVie, Inc. (ABBV) to market a drug to treat endometriosis and uterine fibroids. He says the drug, Elagolix, is currently in Phase III clinical trials for endometriosis and Phase IIb clinical trials for uterine fibroids. Gorman says he sees a large potential market for Elagolix.
“In the United States alone, there are about 7.5 million women who have endometriosis. About 2.5 million of these women are actually diagnosed and getting treatment of some sort or another for endometriosis. And so that’s a very large market,” Gorman says. “We figure about two-thirds of those women are suffering from moderate-to-severe endometriosis, such as suffering significant pain and bleeding due to the disease.”
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Gorman says the market for women who might use Elagolix for uterine fibroids is even larger. He says there are currently 9 million women suffering from uterine fibroids, and treatments are essentially limited to different types of surgeries.
AbbVie will be responsible for pricing Elagolix as the drug moves closer to the market, Gorman says, and Neurocrine Biosciences will receive a percentage of sales.
“We have a very good double-digit royalty on sales throughout the world,” Gorman says. “So yes, that is very good economics to Neurocrine, plus others can see as how we took the drug all the way through Phase II clinical trials before licensing it.”
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