Innoviva Q2 revenue rises on higher net product sales
INVA•Outlook
- Innoviva sees IST U.S. net product sales of at least $150 mln in 2026
- Company says commercial momentum and robust execution expected to drive IST sales growth
- Innoviva says durable cash generation from royalty portfolio supports long-term outlook
Result drivers
- IST sales growth - IST net product sales rose 46% yr/yr, with U.S. sales up 26%, driven by critical care and infectious disease portfolio
- Royalty portfolio - Royalty revenue from GSK respiratory products remained stable, contributing $59.8 mln in Q2 revenue
- New product initiatives - Launch of Nortiva Bio to advance long-acting oral drug delivery platform and new licensing deal for XACDURO in emerging markets
- Net loss - Driven primarily by decrease in fair value of equity and long-term investments
Quarterly results
- US biopharma firm's Q2 revenue rose 19% yr/yr, driven by higher net product sales
- Company posted a net loss, mainly due to lower fair value of investments
- Company repurchased $31.4 mln in shares and launched Nortiva Bio drug delivery unit
