Esperion Therapeutics, Inc. (NASDAQ:ESPR) Q1 2024 Earnings Call Transcript

JoAnne Foody: So Tom this is JoAnne Foody. From the standpoint of statin intolerance, I think what we’re understanding is that statin intolerance is a broad range. So your 10% number may speak to individuals who are completely unable or unwilling to take a statin. When we look at the opportunity for our therapy, it is in individuals who can’t take a statin at all, right, which has that kind of number of 10%. But in fact in individuals who can’t escalate their dose of a statin, lower dose to maximally tolerated and those taken together start to get its numbers closer to the 30%. I can’t speak to the market. Eric if you’d like to speak to that that’s fine. But from a clinical perspective, the numbers are closer and we’ll be publishing data and have published data in that realm showing that it’s probably closer to 30% if we think about complete and partial statin intolerance.

Eric Warren: And that’s part of our education process Tom, as well as to let HCPs know that statin intolerance isn’t just the inability to take any statin, but it is that inability to maximize statin doses. And that’s something that HCPs have been very receptive of — it brings the bell as they’re starting to think of patients. And as we go out and communicate appropriate patients, that is definitely a patient that we’re focused on.

Tom Shrader: And just a quick follow-up. So, we as under-treated the bigger opportunity because they’re clearly under the care of a physician and know their lipid numbers?

Eric Warren: Yeah. It’s — I mean, there’s clearly a recognition that patients can’t achieve their goals with current therapies. So those that are actively treating our primary focus. As we’ve said, there is roughly a 70 million eligible patient population as a result of our label change. We’re focused on 30 million of those patients, and those are patients that are actively engaged in therapy.

Tom Shrader: Perfect. Good. Thank you.

Eric Warren: You’re welcome.

Operator: Thank you. Please standby for our next question. Our next question comes from the line of Jessica Fye with JPMorgan. Your line is open.

Jessica Fye: Hey, guys. Good morning. Thanks for taking my question. I wanted to ask about volume trends we saw a clear inflection in volume on the back of ACC last year, and we’re sort of just starting to annualize over that, albeit with the approval now in hand. So should we expect another inflection in volume, thanks to the ability to promote or maybe more of a continuation of the trajectory the franchise has been on? Or is it reasonable to think about a deceleration given just the tougher comps? Maybe I’ll stop there.

Sheldon Koenig: Hey, Jess. I’ll start with this. So we’ve always said that with our label, you would see a meaningful inflection of our business. Even before our label, we said that, we would show continued quarterly growth. Again, keep in mind, in the first quarter, the results that we’re showing today, it doesn’t even include what we didn’t have the new label yet. So I think if I understand your question correctly, the outlook is, we will continue to show acceleration in the growth of our products based upon the new label just previously mentioned, we know that we have a patient population of close to 70 million patients who could benefit from this drug in additional LDL lowering and risk reduction. What we haven’t talked about is the actual pace of that growth. It’s not going to happen as a quick inflection, but we’re going to see meaningful growth, more aggressive growth as we march through the quarters.

Jessica Fye: Great. Thank you.

Operator: Thank you. Please standby for our next question. Our next question comes from the line of Jason Butler with Citizens JMP. Your line is open.

Unidentified Analyst: Hi. Good morning. Thanks for taking the question. This is Josef [ph] for Jason. Just a very quick from us. Have any of the payers push back an increase in access following the label expansion?

Eric Warren: Yeah, it’s Eric, I can start this one off. So I’d say, our discussions have been very positive so far. I haven’t heard of any negative receptivity from a payer perspective. Obviously, payers have their own time lines, so some of them may operate sooner than others. But based upon the cadence of how this was handled, initially, there were medical discussions and then those translated into confirmation post label change and then business discussions. And so far, all these discussions have been very favorable.

Unidentified Analyst: Very helpful. Thanks. And just a very quick one on the commercial effort. So now that all the commercial efforts are placed, how are you gaining success of the commercial investment in the US? And do you expect to make any adjustment to the sales force accordingly?

Eric Warren: Yes. So we’ve made the adjustments to the sales force. So we’re at the number that we anticipate staying at for a while which is at 150. As a reminder, with the sales force or personal promotion, as well as our digital footprint, we’re able to cover about 45,000 HCPs. So we’ve got a good infrastructure in place in terms of how do we measure success? Well, first of all we have to have discussions with our HCPs. So we’re looking at both the commercial the – actually the digital reach as well as the personal reach. And our teams have been very successful in having those discussions with the targeted HCPs. The digital footprint has been strong, we’ve seen over 19 million impressions between HCPs and consumers over the first five weeks. So those are very encouraging metrics. So obviously, those are some early indicators. But the significant indicators will be actually watching those share increases happen over the upcoming weeks and quarters.

Unidentified Analyst: Very helpful. Thanks for taking the questions.

Eric Warren: You’re welcome.

Operator: Thank you. Please stand-by for our next question. Our next question comes from the line of Joe Pantginis with H.C. Wainwright. Your line is open.