ALNYLAM PHARMACEUTICALS Business Summary

Alnylam Pharmaceuticals (ALNY) operates as the global leader in RNA interference (RNAi) therapeutics, generating revenue primarily through the commercial sale of its proprietary siRNA medicines and high-margin royalty streams. The company’s financial engine is divided into two core segments: the Transthyretin (TTR) franchise, led by the rapid market expansion of Amvuttra and Onpattro, and the Rare Disease franchise, which includes Givlaari and Oxlumo. Additionally, Alnylam captures significant recurring revenue through royalties on Leqvio (inclisiran), licensed to Novartis, and strategic R&D collaborations with partners like Regeneron and Roche. In the competitive landscape, Alnylam contends with Pfizer’s TTR stabilizer Vyndaqel and antisense specialist Ionis Pharmaceuticals, as well as emerging RNAi challengers like Arrowhead Pharmaceuticals. Despite this, Alnylam maintains a dominant market position due to its pioneering GalNAc-siRNA delivery platform and an aggressive "Alnylam 2030" strategy aimed at achieving total TTR market leadership and expanding into common disease indications. Leadership is currently spearheaded by CEO Yvonne Greenstreet, MD, MBA, OBE, who assumed the role in 2022 following senior executive tenures at Pfizer and GlaxoSmithKline. The technical and scientific direction is managed by Chief Scientific Officer Kevin Fitzgerald, PhD, a 20-year veteran of the company who led the development of its clinically validated delivery modes, and Executive VP of R&D Pushkal Garg, MD, formerly of Bristol-Myers Squibb. Financial operations are overseen by CFO Jeff Poulton, who previously served as CFO at Shire. The company was co-founded by Nobel Laureate Phillip Sharp, Paul Schimmel, and John Clarke, maintaining a pedigree of elite academic and industrial expertise. The Board of Directors is chaired by Amy Schulman and recently added Stuart Arbuckle, the former COO of Vertex Pharmaceuticals, in January 2026, further strengthening its commercial scaling capabilities. Notable institutional backing includes major positions held by Adage Capital Management and F-Prime Capital.