BioDelivery Sciences International, Inc. (NASDAQ: BDSI) is a specialty pharmaceutical company with a focus in the areas of pain management and addiction medications. Utilizing its proprietary BioErodible MucoAdhesive (BEMA®) drug delivery technology, the company is developing new applications of proven therapies aimed at addressing important unmet medical needs. By building upon previously approved therapeutics, BDSI is able to adhere to a more time-efficient regulatory pathway, effectively shortening the development process and providing a streamlined method for the company to pursue its ultimate goal of enhancing patient care.
The company’s product portfolio includes two unique treatment options currently approved for commercialization – ONSOLIS®, for the treatment of breakthrough cancer pain, and BUNAVAIL™, for the treatment of opioid dependence. In the first quarter of 2015, BDSI made significant progress with both of these products. In particular, BUNAVAIL recorded a 25 percent month-over-month growth average in prescription sales throughout the period, and the company reacquired North American marketing rights for ONSOLIS, clearing the way for future commercialization.
“We continue to make progress with the launch of BUNAVAIL,” Dr. Mark A. Sirgo, president and chief executive officer of BDSI, stated in a news release. “[W]e are making significant advancements in securing managed care and pharmacy access to BUNAVAIL… providing additional access to over 30,000 prescriptions each month.”
Through the ongoing launch of BUNAVAIL, BDSI gains access to a large and significantly underserved market within the U.S. pharmaceutical industry. According to the U.S. Department of Health and Human Services, approximately 2.5 million people throughout the country are currently dependent on prescription opioids. As a result, the current market for the treatment of opioid dependence was estimated at $1.7 billion in 2013, demonstrating the considerable market potential of BUNAVAIL.
In May, BDSI took a major step toward capitalizing on this potential through the expansion of its sales and managed markets teams. Through these hires, the company added valuable sales and managed markets experience that’s expected to drive substantial growth in both sales and market share in the months to come.
“We are extremely pleased to have hired a number of key sales and managed markets personnel previously with Salix, a leader in its respective field and one driven by a strong commercial sales organization,” continued Sirgo. “This provides us with a strong sales and managed markets leadership team as we continue to advance the commercialization of BUNAVAIL.”
For prospective shareholders, BDSI’s favorable product pipeline should provide a platform for sustainable market growth in the future. Look for the company to leverage this positioning in order to promote strong returns moving forward.
For more information, visit www.bdsi.com