Shield Therapeutics, the Gateshead-based pharmaceutical company, has turned a multimillion-dollar loss into a small operating profit as more markets adopt its main iron deficiency product. The company issued half year results showing a 42% rise in revenues.
Revenue growth and financial performance
In its latest note to investors, covering results for the six months to June 30, the pharma firm said group revenues had risen by 42% to $30.4m. Accrufer revenues rose by 5% to $20.1m. The previous period’s operating loss of $5.8m was converted to an operating profit of $209,000. The overall loss for the year of $9.5m was significantly narrowed to $2.3m, driven primarily by higher group revenues alongside the continuance of streamlining business expenditures.
During the first half of its 2026 financial year, royalty and milestone revenues from global partners were $10.3m, up from $2.2m. This comprised a $7.9m development milestone payment from ASK Pharma in China, $2.1m of royalty income from Norgine in Europe, and $0.3m in royalty from Kye in Canada.
US market strategy and Medicaid changes
Anders Lundstrom, CEO of Shield Therapeutics, said: “We are pleased with our H1 2026 results showing growth in revenue and prescriptions over Q1 2026, despite the Medicaid changes in New York. Since May, we have retained roughly 5% of NY Medicaid-approved prescriptions. The adaptability of our sales force is especially encouraging given how quickly we pivoted to commercially insured patients, our largest segment, at two-thirds of total revenue which grew 27% and drove strong overall prescription growth in H1 2026.”
Lundstrom added: “Our earlier experience in Texas, where we successfully shifted from Medicaid to commercially insured patients, gives us continued confidence in applying the same strategy in New York and in sustaining ACCRUFeR’s growth.”
Global expansion and new leadership
Shield Therapeutics’ lead product is used to treat iron deficiency in adults. The tablets are sold in Europe as Ferracru and all other territories as Accrufer, with a main focus on the US. The company has operations in the North East and the US, and has been involved in partnerships to bring the products to customers elsewhere around the globe.
Lundstrom said: “In the US, we are also excited about our first GPO contract, which opens access to over 400 additional clinics, and our newly launched paediatric indication. Globally, we continue to make good progress: pediatric extensions in Europe, strong growth in Canada and the UK, and 2027 targets launch in both China and Korea.”
Directors said the group remains on track for full year operating profitability in 2026. The company also announced that Michael Jensen will join as its new chief financial officer on 1 September 2026. Lundstrom said: “His experience will strengthen our leadership team as we drive toward operating profitability in 2026.”
