$OPK Opko and Pfizer are competing against Ascendis with Skytrofa. The business case of the Opko/Pfizer deal is that Somatrogan will replace Genotropin and in addition gain additional market share because patients prefer a once a week drug over a daily drug from the current market players. The business case of Ascendis is that they do not replace a previous drug but will become a key player in the market by having a drug which patients prefer over existing solutions. Seeing a weak sales start of Skytrofa, these are excellent news for Opko. Compared to Ascendis we will participate from Day 1 after FDA approval from royalties related to the combined sales of Somatrogan/Genotropin. If Skytrofa sales would grow fastly, we have to be concerned about any additional day we are waiting for the FDA approval as it would become obvious that Ascendis are growing their market share and Genotropin sales would be declining (=less future royalties for Opko).
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