Ascendis Pharma A/S (NASDAQ:ASND) Q4 2022 Earnings Call Transcript

Andreas Argyrides: And then just a quick one on SKYTROFA, and maybe you can elaborate and I don’t know if you’ve covered this already. Sorry, if you did and I missed it. But if you can elaborate on the launch dynamics that are driving growth. Are you seeing higher switch rates from daily growth hormone? And that’s it for me. Thanks, guys.

Jan Mikkelsen: We only see a higher switch rate from daily growth hormone, but we’re also seeing an increased number of new patient coming on the treatment. But the overall number goes up everywhere. So it’s not likely one getting less, both of them are improving up to a really, really new height all the time.

Operator: And our next question is coming from Yaron Werber of Cowen.

Yaron Werber: Jan, I’ve two interrelated questions on more coverage. With PTH coming soon, there isn’t really a competitor. Do you need to contract or will you contract with PBMs to get on formulary, maybe kind of talk about your thoughts there? Obviously, the discounting shouldn’t be very high at that point. And then secondly, now that you’ll have a second program, second product approved, sort of within the endocrine bag. Does it give you more leverage to negotiate better for a placement for SKYTROFA?

Jan Mikkelsen: We know really comments about how our market assess strategy is and will be, and how we are really are addressing the reimbursement system in the US. But for your information, when we always look at a product, because you can do the same thing, I can give you name of products in the US that basically are in a position to generate multiple billion in revenue in the US without basically being provided high rebate. And I think we will follow this pathway, because we are providing such a benefit to the patient, the physician and the society that we feel this is a way we will continue our market versus strategy. Compared to SKYTROFA, we are actually pretty satisfied with our coverage. We believe the strength of the product, the differentiation, don’t really lead us to provide into an highly rebated product. I think that is the strengths of having a highly differentiated product.

Operator: Thank you. That’s all the time that we have for today. Thank you for joining the conference call. You all have a good evening.

Jan Mikkelsen: Thank you.

Tim Lee: Thank you so much. See you.