Artisan Global Opportunities Fund on Insmed Incorporated
Thesis
Insmed is commercializing BRINSUPRI for pulmonary disease, and the fund views the launch as a major long-term profit opportunity. Patient uptake and third-party data remain encouraging, and its due diligence suggests the treatment is well tolerated and could achieve blockbuster-level sales. Shares fell as early sales slightly missed elevated expectations, with investors questioning patient persistence and seasonal effects. The manager retained its positive thesis while trimming the position.
“We continue to view BRINSUPRI® as a significant long-term opportunity.”
Key risks
- Early sales undershot elevated expectations.
- Discontinuation rates and continuation on therapy remain investor concerns.
- Typical early-year seasonality complicates assessment of the launch trajectory.