Insmed Incorporated (INSM) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

SA Transcripts 162.21K Followers Follow Insmed Incorporated ( INSM ) Morgan Stanley 24th Annual Global Healthcare Conference September 14, 2026 2:35 PM EDT Company Participants William Lewis - President, CEO & Chairman Conference Call Participants Maxwell Skor - Morgan Stanley, Research Division Presentation Maxwell Skor Morgan Stanley, Research Division Hello, everyone. I'm Max Skor, a biotech analyst with Morgan Stanley. And before we get started, for important disclosures, please see the Morgan Stanley research disclosure website, www.morganstanley.com/researchdisclosures. And with that, I'd like to welcome Will Lewis, the CEO of Insmed. Thank you very much for joining us today. William Lewis President, CEO & Chairman Thanks for having me here. Question-and-Answer Session Maxwell Skor Morgan Stanley, Research Division All right. Great. Maybe if we could start off, we're almost a year out from -- a little over a year from the approval of BRINSUPRI. I was hoping you can just kind of step back and give us some key takeaways, learnings, anything that you would glean as important from the launch so far? William Lewis President, CEO & Chairman Yes. Well, I'll just start out by saying this launch has blown away all our expectations. We started out, I remember vividly describing that we were going to use a basket of other specialty respiratory launches to help benchmark whether or not we thought the launch was going well. And we took from that basket of best performers a first year revenue production of about $500 million to $700 million. And at the time, I got a lot of heat for that because people thought, well, why would you set yourself against the best launches out there? You might not be able to achieve that and you'd set yourself on your back heel. Today, as you know, we sit with an estimate for the first full year of $1.25 billion to $1.4 billion, which