I mean look at the data that I provided actually in our stockholder letter, it’s extraordinary. So we think that VEVYE is going to expand the market, and as a result, this product should definitely be a 9-figure revenue product annually. And I believe that it could be much higher than that as we get further into the launch.
Brooks O’Neil: Great. I’ll ask you more about that offline. But let me just ask one last one, and I appreciate your patience with me. I have some sense that ILEVRO and NEVANAC had some improving sales in the past month or two. Can you comment on what you’re seeing from those 2 products specifically? And again, thanks for taking my questions.
Mark Baum: Thank you, Brooks. Right, so we said in the stockholder letter that like a mission-critical victory for our company was the IHEEZO launch. We needed to provide our stockholders with evidence that we could execute on the IHEEZO launch. I hope, if you look at the line graph provided in the letter to stockholders, that you will agree that we have in fact changed and markedly improved the outlook for IHEEZO sales. And so that was a critical victory that we had to achieve, and I think that we are on our way and things are going in the right direction. As a result, we did decide to not deploy commercial assets right away for both ILEVRO and NEVANAC. And so the question is, did we in fact deploy those resources? And we did.
About 6 weeks ago, 7 weeks ago, we began to do exactly what we said we would do. We provided information to prescribers, reminding them not only of the existence of the product but the incredible insurance coverage for these products. And in the letter to stockholders, once again, I actually provided 1 of our marketing pieces that we use on the market access side of things. And the good news is that nearly immediately, once again, immediately as we began to execute on our strategy, we saw improvement in the prescription volumes as an overall share of the topical NSAID market or non-steroidal anti-inflammatory market in the U.S. And so if you look at the trailing 4-week data, I think we’re up on both products in the mid-to-high single digits over the last 4 weeks.
And look, it’s early, but this is very positive. And so we may be a little bit late, but what we said that we were going to do seems to be working, and I do believe it will continue as we continue to execute the strategy.
Brooks O’Neil: Great. Thank you for all that color. I appreciate it very much.
Mark Baum: Thanks, Brooks.
Operator: The next question comes from Jeffrey Cohen with Ladenburg Thalmann. Please go ahead.
Jeffrey Cohen: So a few questions on our end. I guess, firstly, talk a little bit about without getting too much into the weeds pricing strategy on VEVYE, I did see in your shareholder letter calling out some of the holes that folks meant to identify in the value?
Mark Baum: Sure. We have not announced the pricing for VEVYE. What I can tell you is that it will be sort of competitively priced with the other water-free product in the market, which is Miebo and so we’ll have more information about the WACC pricing for VEVYE here in the coming weeks as we approach the launch. In terms of the product itself, it is an extraordinary product. Cyclosporin is known to work. We’ve got the highest concentration of cyclosporin. If you put our product in your eye, if you prescribe it and you have put Restasis or other cyclosporin-based products in your eye, you will see our product feels completely different. VEVYE is very different from these other products, and the data is extraordinary. So we have 56-week data that I provided in our letter to stockholders.
I would encourage anyone who understands anything about the dry eye disease market to look at that data. It is extraordinary. So we’ve got great clinical data, we’re going to have a bang-up market access strategy and commercialization strategy that’s going to begin in a couple of weeks, and we’re going to generate our first revenues for VEVYE in the fourth quarter, so in a few weeks.
Jeffrey Cohen: Okay. Got it. And then maybe, could you target into lessons learned on launches more recently? And perhaps some lessons learned on IHEEZO that may carry over to VEVYE, and then kind of carry that forward as well to the Fab Five, sounded like a couple of months of marketing and delayed efforts there. Was that potential as a result of spend parameters from the past quarter, or was it somewhat accidental in which how it came out?
Mark Baum: Yes. So first of all, IHEEZO is a buy-and-bill product. So the strategy, the market access strategy or the commercialization strategy with IHEEZO is very different than VEVYE, and frankly, they’re both different from our approach to the Fab Five and the Santen products. So the strategy with the Fab Five and Santen was to incrementally grow those revenues and to produce streams of cash that would grow over many years. And so as I said to Brooks, it appears that our strategy of just simply doing a little bit of marketing and some sales detailing around those products is working for the Fab Five, and we think the same will be true for the Santen products. But in terms of creating significant stockholder value over the long-term, it’s IHEEZO, it is VEVYE.
And the one product that is similar to IHEEZO is TRIESENCE. So they’re both buy-and-bill products, they’re both J-Coded products, and so the strategy there, although they are buy-and-bill products. IHEEZO is a new product and TRIESENCE is not, and so we probably will not need very many resources to get the word out about TRIESENCE, but they’re all sort of different. Andrew, do you want to add to that?
Andrew Boll: No, Mark, I think you nailed it.
Jeffrey Cohen: Got it. Okay. And then a couple more quick ones. You talked about 2024 for launching TRIESENCE after some of the [buy availability] [ph] work is done. Any narrowing of that to thinking about first half versus second half?
Mark Baum: What I can tell you is that our purchase price for TRIESENCE is $45 million, and it slides down over time as we do not have inventory. And the purchase price is only triggered, the payment is only triggered once we have inventory. January 20, our purchase price goes from $45 million to $37 million. I can tell you that our partner is working diligently to ensure that the purchase price is $45 million and not $37 million, so they are actively working to create inventory for us, which is a very good thing. We would frankly love to pay $45 million because once we do, we’ll have sufficient inventory, assuming we have the NDA to recover substantially all of our purchase price and perhaps even more, depending on how much inventory we have.
