Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) is a biopharmaceutical company focused on the research, development and commercialization of pharmaceutical products that provide unique and meaningful advantages to patients with renal disease. In December 2014, the company launched its first FDA-approved product, Auryxia™, in the United States for the treatment of elevated serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. Keryx’s novel treatment is also being commercialized in Japan as Riona® for the treatment of patients with all stages of CKD by the company’s Japanese partner.
According to the National Kidney Foundation, approximately 26 million Americans currently suffer from kidney disease. Among those individuals, approximately 450,000 people are on dialysis treatments. For these people, maintaining serum phosphorus levels is imperative. An additional report by the National Kidney Foundation states that prolonged exposure to elevated phosphorus levels has been shown to cause increases in calcium-phosphate production, which is commonly associated with increased morbidity and, in many cases, mortality. This data highlights the immense market potential of Auryxia moving forward.
In the first quarter of 2015, Keryx leveraged the marketability of its groundbreaking product to record promising financial results. The company reported total revenue of approximately $1.2 million, including both U.S. product revenue and license revenue associated with sales of Riona in Japan. These figures are expected to rise in the future. In June, Keryx announced that Auryxia had been added to the Medicare Part D formularies of two national insurance providers, giving the company access to approximately 65 percent of people in the United States currently taking phosphate binders.
“The inclusion of Auryxia on the major insurance providers’ Part D formularies, which we expect will start processing claims in the third quarter, significantly expands unrestricted access to Auryxia for people on dialysis and their caregivers,” Greg Madison, chief executive officer of Keryx, stated in a news release. “Looking ahead, we are focused on continuing to raise awareness of Auryxia’s clinical profile among the prescribing community and ensuring that the vast majority of dialysis patients have access to this important medicine.”
In addition to plans of adding a team of field sales representatives in the months to come, the company’s short-term objectives include expanding the indication for Auryxia to include the treatment of iron deficiency anemia in patients with CKD. In September 2014, Keryx initiated a phase III study for this indication which is expected to be completed by the end of 2015.
For more information, visit www.keryx.com
