Description

Alnylam Pharmaceuticals’ Collaboration Engine—How Roche, Regeneron, and Novartis Shape the Revenue Mix!

Alnylam Pharmaceuticals delivered robust financial and operational performance in 2025, highlighted by significant achievements in their commercial and research initiatives. The company reported nearly $3 billion in net product revenues, an 81% increase from the previous year, driven primarily by the successful launch of AMVUTTRA for treating ATTR cardiomyopathy. This achievement underscores Alnylam’s strong market position in RNAi therapeutics as they met or exceeded their ambitious P5x25 goals, achieving GAAP profitability for the full year. On the commercial front, the TTR franchise displayed remarkable growth with revenues reaching $858 million in Q4, a 151% year-over-year increase. The U.S. market showed a 20% revenue growth compared with the prior quarter, despite an increase in gross-to-net deductions. This trajectory was complemented by international growth, although impacted by pricing adjustments in Germany due to larger market prevalence. Given the evolving affluence in the market segments, Alnylam remains well-positioned to continue its expansion.