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AVANIR Pharmaceuticals' CEO Discusses F1Q12 Results - Earnings Call Transcript

I’m pleased with the option and growth we are seeing for NUEDEXTA. Additionally, new patient and physician market research undertaken during the last quarter reaffirms our long-term belief in the growth opportunity for NUEDEXTA. For example, the physician market research suggests that physicians in our target that are already prescribing NUEDEXTA expect a substantially increase in the number of patients treated with NUEDEXTA over the next 12 months. And those physicians who have not yet prescribed NUEDEXTA for the first time, expect to write their first prescriptions in the near future.

Additionally, in the creation market research, although a small sample size, 75% of patients on NUEDEXTA report being very or extremely satisfied with the achievement of their PBA episodes, compared to only 35% satisfaction with other treatment options. These market research findings bode well for the future of NUEDEXTA.

Next, I’d like to provide an update on some of the important short to mid-term growth initiatives that were discussed on our last quarterly conference call. First, the institutional salesforce. The signs of the impact that our new institutional salesforce is having on sales in that segment continue to be encouraging. Since initiating the pilot in early November, our institutional salesforce has made 3,500 calls on nursing facilities and executed nearly 700 speaker programs. As of December, approximately 50% of all NUEDEXTA prescriptions are now coming from the institutional segment. We expect to be better able to assess the success of the institutional sales team over the current quarter and I look forward to giving you more details on our next conference call.

Second, with respect to patient access, we have made good progress on the payer front over the past quarter and just in the last couple of weeks, another large payer had NUEDEXTA to its formulary in a tier 3 unrestricted physician. This payer covers over 4.5 million Medicare Part D lines and approximately 3.5 million commercial lines. With this addition, nearly 35% of patients have tier 2 access to NUEDEXTA and approximately 65% of patients, representing about 200 million lives in the U. S. have unrestricted access to NUEDEXTA.

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