Albireo Pharma, Inc. (NASDAQ:ALBO), an emerging pharmaceutical company focusing on the development and commercialization of drugs for the treatment of liver and gastrointestinal diseases including Bylvay (odevixibat) for the treatment of progressive familial intrahepatic cholestasis (PFIC), announced that Bylvay is now available to patients in Germany, making it the first drug on the European market for PFIC.

With Germany having the largest EU market potential of the ~1,900 patients living with PFIC outside of the U.S., the launch of Bylvay in Germany is a major opportunity for the company to establish a following and build up revenue before expanding into additional European countries.

Analysts at Wedbush increased their price target on the company’s shares to $84 from $82, maintaining their outperform rating. While their current net revenue estimates of $5.8 million and $30.9 million for 2021 and 2022, respectively account for typical initial launch challenges, they anticipate net revenues reaching over $713 million in 2028 following a growth inflection point in 2023 as a result of likely broad payer coverage.