As children and families battling Duchenne Muscular Dystrophy wait for drug prices to drop, Sarepta has announced its earnings forecast for 2025. How much will Sarepta earn in 2025? What is the impact of drug prices on its earnings?
As part of its presentation at the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco, California, today, Sarepta Therapeutics, the leader in precision genetic medicine for rare diseases, reported preliminary fourth quarter and full-year 2024 net product revenue and cash on hand as of December 31, 2024. [Read More: In Which Countries Is Elevidys Approved? Is Elevidys Approved In Europe?]
Financial Update* (preliminary and unaudited):
- Total net product revenue of $638.2 million for the fourth quarter and $1.79 billion for full-year 2024, exceeding full-year guidance by over $100 million. Sarepta’s net product revenue does not include collaboration, contract manufacturing or royalty revenue.
- Fourth quarter and full-year 2024 net product revenue for ELEVIDYS totaled $384.2 million and $820.8 million, respectively. Sarepta’s net product revenue does not include collaboration, contract manufacturing or royalty revenue.
- Fourth quarter and full-year 2024 net product revenue for Sarepta’s RNA-based PMOs totaled $254.0 million and $967.2 million, respectively. Sarepta’s net product revenue does not include collaboration, contract manufacturing or royalty revenue.
- As of December 31, 2024, the Company had preliminary cash, cash equivalents, restricted cash and investments of approximately $1.5 billion.
- The Company reiterates 2025 full-year total net product revenue guidance of $2.9 to $3.1 billion.
“2024 marked the most significant year to date for Sarepta and for the patients we serve. And consistent with our long track record of execution, we ended 2024 and enter 2025 with exceptionally strong performance,” said Doug Ingram, president and chief executive officer, Sarepta Therapeutics. “In the fourth quarter, we grew total net product revenue by 75% year-over-year and grew ELEVIDYS by a very robust 112% over the prior sequential quarter, overachieving our guidance by more than $60 million. Our 2024 total net product revenue grew some 56% over 2023. And we were pleased to see that even in the face of a strong ELEVIDYS launch, our PMO franchise continued to perform and grow year-over-year.”
Children with DMD Expect Lower Treatment Prices
Children and their families struggling with Duchenne Muscular Dystrophy are organizing campaigns to receive Elevidys gene therapy, which costs $2.9 million. Elevidys does not completely eliminate DMD, and it is not yet known how long its effectiveness will last. [Read More: Frequently Asked Questions About Elevidys]
Despite all these unknowns, Sarepta’s sale of the drug for $2.9 million is met with backlash. However, there is nothing families can do and they are trying to cover this cost for their children to survive. [Read More: Duchenne Muscular Dystrophy: Treatment & Cost]
