Titan Pharma posts double-digit increase in Probuphine shipments
Titan Pharmaceuticals (NASDAQ:TTNP) updated the U.S. commercial relaunch of its Probuphine implant for the treatment for opioid use disorder, reporting that it achieved a double-digit increase in product shipments in the second half after it assumed responsibility for Probuphine sales in mid-June 2018.
“Based on preliminary information, total shipments of Probuphine during the rest of the year increased sequentially by over 20%,” Titan said in a statement, adding that it successfully completed the program's planned transition from its previous marketing partner, Braeburn Pharmaceuticals.
Probuphine is the only subdermal implant designed to deliver buprenorphine continuously for six months following a single treatment.
Titan said important commercialization accomplishments included the recruitment of highly qualified commercial and medical affairs personnel for all targeted geographies of the U.S.
The company also reengaged with health care providers who had previously treated patients with Probuphine, providing retraining and medical liaison assistance where needed and creating an integrated sales strategy to support them and their office staff.
In addition, Titan retained a well-known government relations firm to plan and execute a new lobbying strategy for Probuphine and retained a leading public relations agency to rebrand Probuphine.
Titan's chief commercial officer, Dane Hallberg, said the company is pleased that the initial stages of its relaunch have shown that the current market is highly receptive to a market segmentation strategy and core messaging.
"Along with the positive feedback we have received from both health care providers and their patients, the increase in product shipments suggests that our relaunch strategy is sound,” he added.
Titan expects to provide more details in its fourth quarter and full-year 2018 financial results, which it expects to release in late March 2019.