Verona Pharma (VRNA) 7th Annual Evercore ISI HealthCONx Conference summary

Key launch insights and physician engagement

• Strong unmet need in COPD drives high interest in new therapies, especially those with novel mechanisms of action like bronchodilation and anti-inflammatory effects.

• Early adoption is highest among Tier 1 pulmonologists, with 30% penetration in the first week; broader uptake is seen across Tier 2–4, including primary care.

• Messaging focuses on ease of adding therapy without requiring changes to existing regimens, resonating with physicians managing symptomatic patients.

• Prescribing patterns are broad, with significant use in patients on single, dual, and triple therapy, despite trials not including triple therapy patients.

• Feedback loops with physicians and staff, as well as patient outcomes, are key drivers of continued adoption.

Market dynamics and reimbursement

• No significant seasonality expected in early launch phase; chronic nature of COPD supports steady demand.

• Reimbursement is straightforward, with 75–80% of access through Medicare and minimal hurdles for symptomatic patients.

• Permanent J-code is expected to streamline pharmacy reimbursement but does not impact physician workflow.

• No notable payer pushback or restrictions on patient populations; indication supports broad use.

Pipeline and future development

• Phase II program underway for a fixed-dose combination of LAMA (glycopyrrolate) and ensifentrine, targeting launch later in the 2020s.

• Combination product aims to offer dual bronchodilation and anti-inflammatory effects in a single nebulized therapy.

• Dry powder formulation development provides optionality for global markets and other indications, such as asthma.

• Phase II trial in non-CF bronchiectasis is ongoing, with results expected by 2026, leveraging similarities with COPD.