Flexion Therapeutics, Inc. has announced fourth-quarter 2020 net sales for ZILRETTA of $26.3 million and full-year 2020 net sales of approximately $85.5 million. This is the third consecutive quarter that ZILRETTA has beat analysts’ sales estimates. The company has also named a new Chief Business Officer, Adam Muzikant, Ph.D.
ZILRETTA is an extended-release intra-articular therapy approved by the FDA for osteoarthritis-related knee pain. ZILRETTA utilizes a proprietary microsphere technology that combines a short-acting corticosteroid with a poly lactic-co-glycolic acid matrix.
OTW spoke with Flexion President and CEO Michael Clayman, M.D., about the company’s results. Dr. Clayman told us that ZILRETTA’s strong sales reflected that “we are getting a medicine that matters to patients in need. What we hear about ZILRETTA from patients further reinforces our commitment to work with prescribing physicians to get this medicine to more and more patients.”
When asked what drove the impressive sales results, Dr. Clayman said, “The will of the sales force. Every single one of our musculoskeletal business managers found a compliant way to be successful. For a medicine that is administered in a doctor’s office and patient visits declining as precipitously as they did, that presented an enormous challenge. Doctors’ offices were closed to our sales reps, which was another challenge. What our sales reps did under the guidance of their leadership was pivot to move aggressively to virtual detailing.”
Dr. Clayman continued, “This past year presented opportunities to us. Physicians who were consumed by being in the O.R. had more time as elective surgeries declined. The ability to access surgeons was greater during COVID. The delay of surgeries also created a tremendous opportunity for ZILRETTA to demonstrate what it could do.”
While Flexion’s main focus has been on ZILRETTA, the company is also focused on the development of its pipeline. Flexion recently recognized one of its own by promoting Adam Muzikant, Ph.D., to the role of Chief Business Officer for his work in developing the pipeline.
Dr. Clayman said, “Adam has been instrumental in the construction of our pipeline. We now have two assets in development. FX201 is our gene therapy being investigated for knee osteoarthritis. It is a unique approach to potentially provide extended pain relief and modify the disease by delivering a powerful anti-inflammatory protein “on demand” when inflammation is detected in the joint. FX301 is our peripheral nerve block product candidate, which has the potential to provide pain relief without compromising motor function and provide longer pain relief than is currently available.”
Dr. Clayman continued, “We see great opportunity ahead for ZILRETTA in 2021 and with preliminary directionally-defining clinical data for both our gene therapy and nerve block—2021 promises to be one of the most important years in the entire history of the company.”
