Alnylam Pharmaceuticals Reports Q3 2026 Revenue Growth Driven by TTR Franchise
Alnylam Pharmaceuticals (ALNY) reported third-quarter 2026 total revenues of $1.46 billion, a 17% increase year-over-year. This growth was primarily fueled by the transthyretin (TTR) franchise, specifically AMVUTTRA, which generated $1.13 billion in sales—a 65% increase from the previous year. Despite strong product demand, non-GAAP operating income fell 11% to $425 million due to a decline in milestone-related collaboration revenue compared to the prior year. The company faces near-term headwinds regarding market access and regulatory shifts. Management noted that recent policy changes at UnitedHealth affecting Medicare Advantage could restrict first-line access for AMVUTTRA, potentially delaying new patient starts. Additionally, proposed CMS rule changes regarding the 340B drug discount program may cause ordering volatility in the fourth quarter as providers adjust to new economic implications.
Topics: AMVUTTRA Sales Financial Guidance GAAP Net Income Revenue Growth TTR Franchise