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SCPH SQ FUROSCIX Commercial Launch Provides Opportunities for Recruiters & Insurance Consultant

Category: Insurance coverage and sales force size/biotech recruiting

Opportunity: Hiring/staffing & headhunters, Health care insurance & CMS consultants

Company: Scpharmaceuticals

Product/Asset: FUROSCIX

Issue: Insurance coverage & sales force size

Latest trigger event for Opp: First Quarter Report 2023

Target Companies: Job recruiters, Health Care Insurance & CMS Consultants


Details:

scPharmaceuticals is a pharmaceutical company focused on developing and commercializing treatments for outpatient care of acute conditions, including worsening heart failure and bacterial infections. Scpharmaceuticals has one approved drug, FUROSCIX. FUROSCIX treats congestion caused by fluid build-up in a person with heart failure. In February 2023, FUROSCIX was launched. In the first quarter of 2023, net product revenues were $2.1 million (only 5 weeks) and cost of product revenues were $0.6 million with a market opportunity of $7 billion though. Now SC Pharma is looking to expand their sales force to increase coverage and distribution to hopefully capture a bigger market. They currently have 40 field-based sales representatives and cover 40% of the territory they wish to cover. However, SC Pharma is looking to increase this to 55 sales representatives.

In addition, SC Pharma has been having discussions with both commercial and Medicare Part D coverage in an effort to secure the broadest and most favorable coverage for FUROSCIX. They were able to get UnitedHealth last month. They are working to increase the percentage of heart failure patients who have access to FUROSCIX through a fixed-tier copay of $100 or less, which is currently at 60% and have a goal of 75% or more.



About Scpharmaceuticals:

Company Type: Public Company

Market Cap (7/19/23): $298,700,000

Location: Burlington, Massachusetts

Cash (Q1 2023): $117,400,000

Burn rate/quarter: $-10,930,000

Technology Focus: Biologic

Latest stage asset: Approved

Indications: Heart Failure

Key employees: Subscribe to learn more!



 

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Article History:

Originally posted 7/21/23 (RB)




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