Orexo's lead product ZUBSOLV® added to NY State Medicaid MAT Preferred Drug List
Orexo AB announced that its product ZUBSOLV® (buprenorphine and naloxone) will be added to the New York Medicaid MAT formulary as a preferred product effective March 22, 2022. This change increases ZUBSOLV®'s unrestricted access in the public segment by 6 percentage points to 48% in the U.S., up from 34% at the end of 2020. ZUBSOLV® has historically had a minimal presence in New York's Medicaid segment, which has a gross sales value of nearly USD 180 million. The improved access is expected to boost Orexo's growth opportunities and strengthen its market position amongst Medicaid patients.
- ZUBSOLV® added to NY Medicaid MAT formulary as a preferred product.
- Overall unrestricted access to ZUBSOLV® in the public segment increased to 48%.
- Public segment access improved from 34% in 2020.
- New York has a Medicaid gross sales value for buprenorphine/naloxone products approaching USD 180 million.
- ZUBSOLV® had negligible volumes in NY Medicaid segment previously.
- Market share for ZUBSOLV® had suffered due to limited access in Medicaid.
UPPSALA, Sweden, Feb. 24, 2022 /PRNewswire/ -- Orexo AB (publ.), (STO:ORX) (OTCQX:ORXOY), announced today information about improved market access position for ZUBSOLV® (buprenorphine and naloxone) sublingual tablet (CIII) for opioid dependence. This news follows the publication of the new MAT formulary effective March 22, 2022, by the New York Department of Health.
ZUBSOLV® will be available to patients with Medicaid insurance in NY State as a preferred product without prior authorization equal to all other buprenorphine based treatment regimens. The improved formulary position in New York increases the overall unrestricted access to ZUBSOLV® in the public segment by 6 percentage points to 48 percent in the US. ZUBSOLV´s overall market access in the public segment has improved from 34 percent from the end of 2020 and Orexo continues to pursue opportunities to expand access for OUD patients. This increase in access builds upon the improvement in Kentucky last year and is a result of the continued focus to provide patients in the largest payer segment in the market, the public segment, access to ZUBSOLV®.
NY State is the second largest Medicaid payer of buprenorphine/naloxone products in the US with a gross sales value (before rebates) approaching USD 180 million. ZUBSOLV® had previously never been a preferred product without prior authorization for all NY State Medicaid patients. Historically, ZUBSOLV® volumes have been negligible in the Medicaid segment in NY State. However, the market share in the commercial segment in NY State is 7 percent and is a result of the broad access of ZUBSOLV® in this segment.
Since the launch of ZUBSOLV® in September 2013, Orexo has had a strong presence with sales representatives in NY State and following the improved market access, the plan is to expand the footprint in the state from April through re-allocation of resources.
Nikolaj Sorensen, CEO & President of Orexo AB, said: "Market access for ZUBSOLV® has been a cornerstone in the commercialization of the product in the US since launch in 2013. The public market and particular Medicaid has been the main growth segment in recent years and our market share for ZUBSOLV® has suffered due to less market access in this segment. With the improvement in Kentucky last summer and now NY State, we have made significant progress in making our lead product available to many more patients suffering from OUD. This will provide Orexo with new growth opportunities for ZUBSOLV® and further strengthen our possibilities to grow the business long term."
For further information, please contact:
Orexo AB (publ.)
Nikolaj Sørensen, President and CEO | Lena Wange, IR & Communications Director | |
Tel: +46 (0)18 780 88 00 | Tel: +46 (0)18 780 88 00 | |
E-mail: ir@orexo.com | E-mail: ir@orexo.com |
About Orexo
Orexo develops improved pharmaceuticals and digital therapies addressing unmet needs within the growing space of substance use disorders and mental health. The products are commercialized by Orexo in the US or via partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo commercializes its lead product ZUBSOLV® for treatment of opioid use disorder. Total net sales for 2021 amounted to SEK 565 million and the number of employees was 121. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the US. The company is headquartered in Uppsala, Sweden, where research and development activities are performed.
For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.
The information was submitted for publication at 8.00 am CET on February 24, 2022.
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The following files are available for download:
Orexo Press Release ZUBSOLV on NY State Medicaid MAT Formulary_Feb 24 2022 | |
Zubsolv 5 7 box |
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SOURCE Orexo
FAQ
What is the significance of ZUBSOLV® being added to the NY Medicaid MAT formulary?
When will ZUBSOLV® be available as a preferred product in NY Medicaid?
What percentage of access does ZUBSOLV® have in the public segment after the NY Medicaid formulary update?
What was ZUBSOLV®'s market share in New York's commercial segment?
How does the New York Medicaid formulary change affect Orexo's business?
