Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) Reaches Funding Agreement for Strensiq

Andy Parker
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Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) Reaches Funding Agreement for Strensiq

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) has reached a national funding agreement with the National Institute for Health and Care Excellence and National Health Service for its novel treatment of hypophosphatasia, Strensiq. The Managed Access Agreement agreed upon was developed in collaboration with physician-thought leaders and patient groups.

Managed Access Agreement

Under the agreed terms, infants, children as well as adult patients with pediatric-onset HPP will now be able to access the treatment. HPP is a rare metabolic disease characterized by a defective bone formation, known to cause weakness and deformity of bones, fractures among other skeletal abnormalities.

NICE balked from making the drug available to patients in 2015 citing its high price of about £367,000 for an average weight infant. However, the company excluded two patient groups early this year allowing patients with Perinatal and infantile insert GPP to access the drug.

A change of heart means patients with juvenile-onset HPP will now be able to access the treatment.  Improved agreement terms allows hospitals to administer the drug at reduced costs.

“We worked diligently and constructively with NICE, NHS England, advocates and physicians, and are extremely pleased that we were able to reach an agreement to make Strensiq available to patients with pediatric-onset HPP in England who are most in need of treatment,” said Ludwig Hantson Alexion Pharmaceutical CEO.

 Strensiq Sales

Strensiq became the first approved treatment for HPP in 2015 presenting a lifeline for patients who suffer myriad symptoms such as chronic pain and bone weakening. The drug is currently approved in Europe as an enzyme replacement therapy for patients struggling with pediatric-onset HPP. The FDA in the U.S has also approved the drug as a novel treatment for patients with perinatal, infantile and juvenile onset HPP.

Alexion Pharmaceuticals acquired rights to Strensiq after completing the acquisition of Enobia for $610 million in 2012. The drug’s sales have been growing steadily reaching highs of $210 million last year.

Alexion Pharmaceutical stock was up by 3.28% in Wednesday’s trading session to end the day at $125.05 a share.