Before the Orphan Drug Act was introduced in 1983, Big Pharma ignored rare diseases, leaving people suffering from chronic conditions such as cancer, hemophilia and H.I.V., to fend for themselves. Today, with research giants like Amgen, Allergan and Shire Pharmaceuticals leading the charge, there are over 400 specialty therapeutic solutions available, changing the game for oncology, allergies, immunology and urology.
As a result, the specialty drug market now accounts for over 31% of drug spend in the U.S. and is expected to climb to over 50% within the decade. One of the companies making its mark in this lucrative vertical is Medexus Pharmaceuticals (MDP.V). Operating in both Canada and the United States, Medexus focuses on delivering new and innovative medicines in fields such as haematology, auto-immune disease, specialty oncology, allergy and pediatric diseases.
Medexus leverages a strong North American commercial presence as well as a solid balance sheet in its continual hunt for new synergistic products. Its integrated business model includes sales, marketing, managed markets, quality and regulatory services. With two M&A transactions and multiple licensing agreements, Medexus has fifteen products across its portfolio either launching, growing or enjoying mature commercial status.
Tackling niche multimillion-dollar markets, Medexus’ expert senior management achieved 57% growth year over year, reporting $51.1 million in revenues for H1 2020. With six-month gross profit of $27.8 million and $8.6 million in the till, the company’s tight share structure and highly scalable business platform indicate a potentially positive outcome for both patients and Medexus investors. Tune in!