Alnylam Stock Drops a Quarter as Amvuttra Uptake Lags and 2027 Guidance Slips to February
- TTR franchise revenue grew strongly year on year, but the CEO conceded demand is short of hopes and the CFO expects full-year revenue at the low end of guidance; no Q4 growth should be assumed.
- BridgeBio's Attruby and Pfizer are taking share, and a proposed 340B rule due in 2027 could cause ordering volatility.
- 2027 guidance is pushed to February, after the usual J.P. Morgan window. Shares fell about 25% in a day, prompting analyst talk of Alnylam as a takeover target, with Sanofi named as a likely buyer.
💡 Points Based on public reports
Alnylam sold the market on a fast ATTR-CM switch from competitors; the data now say adoption is gated by prescriber habit, not by efficacy. Pushing guidance past J.P. Morgan is itself a message. A depressed price makes it a candidate for a bid, but any acquirer would be paying for the same uptake problem plus a litigious, price-pressured category.
'We need to do better,' Alnylam CEO admits, as uncertainty looms over transthyretin franchise ↗