Ironwood Has Revised Its FY 2024 Financial Guidance Due To Continued Linzess Pricing Pressure Due To Higher-than-expected Medicaid Utilization Trends For FY 2024, It Expects Sales Of $350M-$375M Compared To Prior Range Of $405M-$425M And Consensus Of $410.05M
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Ironwood Pharmaceuticals has revised its FY 2024 financial guidance due to continued pricing pressure on Linzess, driven by higher-than-expected Medicaid utilization trends. The company now expects sales of $350M-$375M, down from the prior range of $405M-$425M and below the consensus of $410.05M.
August 08, 2024 | 11:08 am
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Ironwood Pharmaceuticals has lowered its FY 2024 sales guidance to $350M-$375M due to pricing pressure on Linzess from higher Medicaid utilization. This is a significant reduction from the previous range of $405M-$425M and below the consensus estimate of $410.05M.
The significant reduction in sales guidance due to pricing pressure on Linzess is likely to negatively impact Ironwood's stock price in the short term. The new guidance is well below both the previous range and the consensus estimate, indicating potential challenges ahead.
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