Gelesis Releases Preliminary National Launch Results for Plenity: Record-Breaking Levels of Prescriptions and Online Traffic
New Plenity patient prescriptions increased 3.5-fold within the first three weeks of the national media campaign launch
´º½ºÀÏÀÚ: 2022-03-17
BOSTON-- March 17, 2022 -- Gelesis (NYSE: GLS), the maker of Plenity, announced preliminary results from its broad awareness media campaign that debuted January 31, 2022. Within the first three weeks, the company saw a 3-fold increase in web traffic and 3.5-fold increase in the number of individuals seeking a new prescription compared to previous months when supply was limited. Gelesis anticipates that its 2022 net product revenue will be approximately $58 million in its first year of full launch, reaffirming guidance the company issued earlier this year.
Gelesis acquired approximately 4,700 new Plenity members per week within the first three weeks of the campaign. This is in addition to existing members who continue their Plenity prescriptions. About 70% of Plenity members had never tried a prescription weight management product before, indicating Plenity is bringing new people into the category of prescription weight management products. Within two weeks of the campaign launch, Plenity has reached organic search volumes on par with well-established weight loss and weight management brands according to data from Google Trends®.
“We are offering clinically proven healthcare with the convenience you expect from e-commerce. You can seek out a Plenity prescription at any time, from anywhere, at an affordable cost,” said David Pass, Pharm.D., Chief Operating and Commercial Officer of Gelesis. “We saw in our clinical studies that 6 out of 10 of people were responders and consistent with that, 60% of our members have ordered multiple monthly kits within the limited time Plenity has been available. We are very excited by what we are hearing from members about their real-world experience.”
Gelesis’ exclusive telehealth partner, Ro, responded to growing patient demand when it placed $40 million in pre-orders for Plenity last year. Since then, the broad consumer launch, as well as the continued growth of Ro’s direct-to-patient healthcare platform, has led to Plenity becoming one of the most sought-after offerings on Ro’s platform.
“Last month, Plenity was the fastest growing treatment on Ro and brought in more new members than any other product,” said Zachariah Reitano, CEO and Co-founder of Ro. “We’re excited about the recent expansion of our partnership with Gelesis that will enable us to bring this innovative offering to more patients nationwide.”
Consistent with Gelesis’ digital-first business strategy built to rapidly adapt to customer needs, the company recently shifted its healthcare sales force efforts to primarily virtual sales visits. Healthcare provider (“HCP”) prescriptions of Plenity are up 100% since the media campaign began, and over 40% of HCP prescriptions were requested by the consumer (a 60% increase from the company’s beta launch benchmark).
Regardless of whether they came through telehealth or by way of traditional HCPs, about 95% of members are confident or very confident in using the product upon receiving their first shipment. The majority of Plenity members describe the process as quick and easy to navigate. Seventy percent of the people who have paused taking Plenity indicated that they would consider using it again in the future.
Previous marketing efforts around Plenity were very limited while Gelesis built out a commercial-scale manufacturing facility. The company scaled up its proprietary manufacturing efforts at the end of 2021 to meet rapidly growing demand.
Gelesis anticipates releasing its earnings for the full year 2021 this month. Financial results from this quarter’s broad national launch are expected to be reflected in the company’s first quarter of 2022 earnings, anticipated to be released in May.
Important Safety Information about Plenity
¡Ü Patients who are pregnant or are allergic to cellulose, citric acid, sodium stearyl fumarate, gelatin, or titanium dioxide should not take Plenity.
¡Ü To avoid impact on the absorption of medications:
¡£For all medications that should be taken with food, take them after starting a meal.
¡£For all medications that should be taken without food (on an empty stomach), continue taking on an empty stomach or as recommended by your physician.
¡Ü The overall incidence of side effects with Plenity was no different than placebo. The most common side effects were diarrhea, distended abdomen, infrequent bowel movements, and flatulence.
¡Ü Contact a doctor right away if problems occur. If you have a severe allergic reaction, severe stomach pain, or severe diarrhea, stop using Plenity until you can speak to your doctor.
Rx Only. For the safe and proper use of Plenity or more information, talk to a healthcare professional, read the Patient Instructions for Use, or call 1-844-PLENITY.