Camcevi's U.S. Medicare coverage is more than three times higher than its peersDec 21, 2022

Foresee Pharmaceuticals revealed that the six-month dose of CAMCEVI, a new form of prostate cancer drug already available in the US, has been disclosed at a maximum Medicare limit of US$3,727.54, much higher than the US$1,130 of the industry. With the launch of CAMCEVI's three-month dosage form in the US in 2024, Foresee will be at its peak for three consecutive years from 2024.

In addition, Mr. Ben Chien, Chairman of Foresee, said that the European launch of the six-month dosage form of CAMCEVI was originally scheduled for the end of this year, but due to the strong price advantage in the US market and the capacity expansion of our French foundry partner, we have decided to launch in the US market first after discussions with our sales partner Accord BioPharma, and the European launch will be postponed to the third quarter of next year.

The company's development strategies mainly fall into two categories. One is the self-developed Stabilized Injectable Formulation (SIF) platform, which re-improves old drugs into new dosage forms. The first product, Camcevi, has obtained drug certification in the United States, Canada, and EU, and has begun to be marketed in the United States; the second largest category is the development of new drugs. Among them, CAMCEVI has completed international authorization in major markets around the world, and the paid-in authorization fee has exceeded NT$1 billion. This drug has completed the Phase III clinical trial of this drug, so the authorization fee is fully owned by Yida and does not need to be shared with others.

CAMCEVI six-month dose was launched in the US through a distribution partner in April this year. The CFO of Foresee said that the latest health insurance information released recently showed that CAMCEVI six-month dose was covered at a maximum benefit of US$88.751 per milligram, with a maximum benefit of US$3,727.54 for a six-month dose of 42 milligrams, which is much higher than the industry's maximum benefit of US$1,130 for 45 milligrams. The maximum benefit price of US$3,727.54 for a six-month dose of 42 mg is significantly higher than the peer group rate of US$1,130 for 45 mg.

According to Foresee, the US market for CAMCEVI is split between the one-month dose, the three-month dose and the six-month dose, with the three-month dose having the highest market share of 50%, followed by the six-month dose with a market share of approximately 40%.

The company said following the six-month dose of CAMCEVI, the three-month dose of CAMCEVI will be launched in the US in 2024. In addition, CAMCEVI's second indication, central precocious puberty in children, will be clinically completed and licensed in 2025.

In addition to new dosage forms, Foresee also has a series of development plans in the field of new drugs, of which it is quite optimistic about the new allergic asthma drug FP-025, which is expected to be announced in the first quarter of next year for Phase II clinical proof of concept.