During the first quarter of 2016, Novartis reported $17 million in sales of sacubitril/valsartan (Entresto), which was short of analyst expectations.
The FDA approved sacubitril/valsartan in July 2015 to treat patients with heart failure and reduced ejection fraction. The approval of the twice-daily oral medication was based on results of a study that showed the drug significantly reduced the risk of cardiovascular mortality, heart failure hospitalizations and all-cause mortality compared with enalapril, which is a commonly used FDA-approved ACE inhibitor.
At the time, Novartis said it estimated worldwide sales of sacubitril/valsartan could reach more than $5 billion. However, the company now expects U.S. sales of approximately $200 million in 2016.
In February, Novartis entered into pay-for-performance agreements with Cigna and Aetna to help make sacubitril/valsartan available to more patients. Novartis said the drug is available to 91 percent of Medicare patients on their formularies, including 65 percent at the lowest branded co-pay health plan.
Novartis is making a commitment to reaching out to more cardiologists to tout the benefits of sacubitril/valsartan. CEO Joe Jimenez told the Wall Street Journal the company has increased its U.S. sales force devoted to sacubitril/valsartan by 50 percent.
Novartis also plans on launching a direct-to-consumer advertising plan for sacubitril/valsartan this month.