Gateshead pharma firm Shield Therapeutics ‘on track for full year profitability’

The company has issued half year results showing a 42% rise in revenues

Pharmaceutical firm Shield Therapeutics has turned a multimillion-dollar loss into a small operating profit as more markets adopt its main iron deficiency product.

The Gateshead-based maker of iron deficiency-fighting tablets 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. The tablets are sold in Europe as Ferracru and all other territories as Accrufer, with a main focus on the US.

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, with Accrufer revenues rising by 5% to $20.1m.

It said its goal is to identify new opportunities to bring Ferracru/Accrufer to patients with iron deficiency across as many markets as possible, and that during the first half of its 2026 financial year, royalty and milestone revenues from global partners were $10.3m, up from $2.2m, comprising 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.

The previous period’s operating loss of $5.8m was converted to profit of $209,000, and the overall loss off for the year of $9.5m was significantly narrowed to $2.3m, which it said was driven primarily by higher group revenues alongside the continuance of streamlining business expenditures. Directors said the group remains on track for full year operating profitability in 2026.

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.

“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.

“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.

“The company is also excited to welcome Michael Jensen as our new chief financial officer, joining on 1 September 2026. His experience will strengthen our leadership team as we drive toward operating profitability in 2026.”