Case 15 Neurocrine Biosciences

Neurocrine Biosciences is a neuroscience-focused, biopharmaceutical company that focusses on development of novel mechanisms to treat intractable diseases related to neurological, neuroendocrine, and neuropsychiatric disorders. The diverse portfolio of the company includes FDA-approved treatments for tardive dyskinesia (TD), Parkinson’s disease, endometriosis, uterine fibroids, and late-stage clinical programs in multiple therapeutic areas of neurology, neuroendocrinology, and neuropsychiatry. The company is also focusing on research trials related to schizophrenia and major depressive disorders. Neurocrine Biosciences has marketed INGREZZA® (valbenazine) as the first FDA-approved drug for the treatment of tardive dyskinesia in the United States since 2017. There is a significant opportunity for growth for the company as the estimation suggests that there are 500,000 undiagnosed and untreated patients with Tardive Dyskinesia in the United States. The strategy of the company involves commercialization of the product portfolio, research efforts toward discoveries related to segments such as neurology, neuroendocrinology, and neuropsychiatry along with acquiring rights for commercial products and drug development molecules. The company takes a portfolio-based approach to manage its pipeline of molecules. For technical and commercial success, the company also focuses on internal resources for development of innovative therapies. As a part of its Diversity, Equity, and Inclusion Initiatives, Neurocrine Biosciences hired its first Director of Diversity, Equity, and Inclusion. The percentage of women on board is 33%. The 5-year return analysis during the period Jan 2018–Oct 2022 shows that stock had a total monthly cumulative return of 81% compared to 31% accounted by the NASDAQ biotechnology index.