Insmed (INSM) CEO Will Lewis presented updated financial projections for BRINSUPRI and TPIP at the Morgan Stanley 24th Annual Global Healthcare Conference on September 14, 2026. The company raised its full-year revenue guidance for BRINSUPRI to $1.25 billion to $1.4 billion, up from an original estimate of $500 million to $700 million. The U.S. peak sales estimate for BRINSUPRI was raised to north of $7 billion, excluding comorbid COPD or asthma populations and accounting for a next-closest DPP-1 competitor and the 2035 IRA price renegotiation.
TPIP's peak sales guidance was also raised to north of $6 billion across four indications: idiopathic pulmonary fibrosis (IPF), progressive pulmonary fibrosis (PPF), pulmonary arterial hypertension (PAH), and pulmonary hypertension associated with interstitial lung disease (PH-ILD), up from a prior estimate of $2 billion or more. Insmed expects to approach $2 billion in revenue by the end of 2024, with expected compound annual growth on top and bottom lines for the next 5 to 10 years.
Lewis highlighted the strong market access and gross-to-net discounts for BRINSUPRI, with approval rates reported at north of 90% and gross-to-net discounts improved to a range of 25% to the low-to-high 20s, expected to remain stable through year-end. The company has more than 25,000 physicians called on for BRINSUPRI and tens of thousands of patients taking the drug.
Insmed's international expansion in Japan is progressing, with final pricing expected by year-end 2024 and plans to add 50 sales reps next year, bringing the total to about 125 reps. Europe remains on hold pending reimbursement clarity. The company has four research platforms acquired about four years ago, including DPP-1 and related therapies, synthetic rescue capabilities, de-immunized therapeutic proteins using AI, and gene therapy using viral vectors for monogenic diseases.
Lewis expressed excitement about the success of the team, stating, "This launch has blown away all our expectations... Today, as you know, we sit with an estimate for the first full year of $1.25 billion to $1.4 billion, which is just staggering, and it now places us on track to be one of the top 20 commercial launches of all time in any therapeutic category." He also noted that Insmed is at the beginning of the strongest point of its growth cycle and expects a series of successful products to support the business for at least the next 10 years.
