Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) announced a new five-year roadmap, "Alnylam 2030," on Sunday, outlining the company’s focus on scaling its operations.
The strategy builds on the company's history of setting and meeting long-term goals, following the completion of its prior P5x25 plan. Management said Alnylam has met or exceeded all previous five-year objectives, setting the stage for its next phase of expansion.
At the core of Alnylam 2030 is a push to establish durable global leadership in transthyretin, or TTR, diseases. The company aims to lead the TTR market in revenue by 2030 and cumulatively over the next five years.
A key component of that plan is the expected launch of nucresiran, a next-generation RNAi therapy, in polyneuropathy by 2028 and cardiomyopathy by 2030.
Beyond TTR, Alnylam plans to deliver at least two additional transformative medicines with blockbuster potential outside of TTR indications, expand its reach to 10 tissue types, and run more than 40 clinical programs. Alnylam also intends to reinvest roughly 30% of revenue into non-GAAP research and development.
By the end of 2030, Alnylam is targeting more than 25% total revenue compound annual growth and a non-GAAP operating margin of around 30%.
Alnylam reported preliminary net product revenue for Amvuttra and Onpattro reached about $827 million and $32 million in the fourth quarter, driving 151% year-over-year growth for the TTR franchise.
For the full year 2025, Amvuttra and Onpattro reached about $2.3 billion and $173 million, respectively, more than doubling from 2024.
Rare disease products Givlaari and Oxlumo posted fourth-quarter revenues of roughly $137 million combined, with full-year sales of about $499 million.
Looking ahead, Alnylam guided for 2026 combined net product revenue of $4.9 billion to $5.3 billion, reflecting 71% growth at the midpoint. By franchise, the company expects:
- TTR franchise (Amvuttra and Onpattro): $4.4 billion to $4.7 billion, representing 83% growth at the midpoint.
- Rare disease franchise (Givlaari and Oxlumo): $500 million to $600 million, reflecting 10% growth at the midpoint.
William highlighted that 2025 net product revenues were narrowly below their and Street estimates, while 2026 net product revenue guidance is significantly above the estimates.
ALNY Price Action: Alnylam Pharmaceuticals shares were down 10.07% at $358.20 at the time of publication on Monday, according to Benzinga Pro data.
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