Summary of Supernus Pharmaceuticals Conference Call Company Overview - **Company**: Supernus Pharmaceuticals (NasdaqGM:SUPN) - **Focus**: CNS-focused biopharma with a diversified portfolio of products - **Revenue Guidance**: $685 million - $705 million for the current year [3][4] Key Products and Growth Drivers 1. **Qelbree**: - A non-stimulant ADHD treatment launched four and a half years ago - Current annualized prescriptions: approximately 1 million, representing about 1% market share - Expected peak sales: $320 million with a growth rate of over 20% [6][7] 2. **GOCOVRI**: - Unique product for Parkinson's, approved for dyskinesia and off episodes [3] 3. **ONAPGO**: - Apomorphine infusion device for Parkinson's launched this year - Initial peak sales estimate: $200 million - $300 million, but demand has exceeded expectations [9][10] 4. **ZURZUVAE**: - Oral treatment for postpartum depression acquired from Sage Therapeutics - Sales guidance not yet provided, but milestones based on sales levels are expected to be achievable [10][11] Business Development and Financial Strategy - **Cash Position**: Approximately $300 million post-acquisition of Sage Therapeutics - **Future Acquisitions**: Business development remains a priority, with potential transaction sizes estimated between $1 billion - $1.5 billion [12][13] - **Leverage Strategy**: Comfortable with a leverage ratio of 2 to 2.5 times EBITDA [13] Supply Chain and Production Challenges - **ONAPGO Supply Issues**: - Current production challenges due to competing priorities on the production line - Decision made to pause new patient initiation to prioritize existing patients [19][20] - Efforts are ongoing to increase production capacity and explore alternative suppliers [24][30] Market Position and Competitive Landscape - **Differentiation of ONAPGO**: - Apomorphine acts like dopamine without the need for metabolic conversion, unlike levodopa - Strong clinical need for alternatives to levodopa in Parkinson's treatment [32][34] - **ZURZUVAE Market Potential**: - Consistent growth of 19%-20% quarter over quarter - Focus on educating OB-GYNs for better diagnosis and treatment of postpartum depression [37][38] Pipeline and Future Developments - **Upcoming Data**: - Phase 2B data for epilepsy compound SPN-817 expected in 2027 - New stimulant for ADHD (SPN-443) to enter SAD-MAD study in 2026 [43][45] - **Potential New Assets**: - Evaluation of Sage's pipeline for future development opportunities [42] Conclusion - Supernus Pharmaceuticals is positioned for growth with a strong focus on CNS products, ongoing development efforts, and a commitment to addressing supply chain challenges. The company is optimistic about its product pipeline and market opportunities in the coming years.