Rhythm Pharmaceuticals Announces Public Reimbursement for IMCIVREE® (setmelanotide) in Canada in Five Provinces and Under the Federal Non-Insured Health Benefits Program

Rhea-AI Summary

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced public reimbursement agreements for IMCIVREE (setmelanotide) in Ontario, Alberta, British Columbia, Saskatchewan, Nova Scotia and with the Federal Non-Insured Health Benefits (NIHB) program for weight management in eligible patients aged 6 years and older with clinically or genetically confirmed Bardet-Biedl syndrome (BBS) and obesity.

IMCIVREE was approved by Health Canada in May 2023 after priority review and was recently added to the Common Drug List for rare diseases under Canada’s National Strategy for Drugs for Rare Diseases, supporting broader public access.

Positive

• Public reimbursement secured in 5 provinces plus Federal NIHB
• Coverage includes adult and pediatric patients aged 6 years and older
• IMCIVREE had Health Canada approval (May 2023)
• Added to the Common Drug List under Canada’s National Strategy for Drugs for Rare Diseases

Negative

• Coverage limited to five provinces and NIHB, not yet all provinces/territories
• Reimbursement scope restricted to clinically or genetically confirmed BBS, narrowing eligible population

Insights

Market Access Analyst

Public reimbursement in five provinces and NIHB expands access for IMCIVREE in Canada, a clear commercial access win.

Rhythm secured Product Listing Agreements in Ontario, Alberta, British Columbia, Saskatchewan, Nova Scotia and the Federal Non-Insured Health Benefits (NIHB) program for IMCIVREE for patients aged 6 and older with clinically or genetically confirmed Bardet-Biedl syndrome (BBS) and obesity, dated November 5, 2025. This moves IMCIVREE from regulatory approval toward actual payer-funded use in multiple large provincial formularies, enabling covered access for eligible adult and pediatric patients in those jurisdictions.

The main dependencies are explicit in the announcement: the listing agreements themselves and ongoing provincial/territorial negotiations mentioned by Rhythm. Monitor further provincial and territorial listings and any implementation details that determine which patients meet coverage criteria. Near-term items to watch include public communication of eligibility rules, formulary effective dates, and expansion to remaining provinces or territories; these factors will shape uptake over the coming quarters.

IMCIVREE now publicly covered for weight management due to Bardet-Biedl syndrome (BBS) in Ontario, Alberta, British Columbia, Saskatchewan, Nova Scotia and under NIHB

BOSTON, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients living with rare neuroendocrine diseases, today announced that it has entered into Product Listing Agreements in the provinces of Ontario, Alberta, British Columbia, Saskatchewan, Nova Scotia and with the Federal Non-Insured Health Benefits (NIHB) Program for the public reimbursement of IMCIVREE for weight management in eligible adult and pediatric patients aged 6 years and older with clinically or genetically confirmed Bardet-Biedl syndrome (BBS) and obesity.

“These listing agreements for IMCIVREE mark a significant milestone for individuals living with obesity due to Bardet-Biedl syndrome,” said Prof. Andrea M. Haqq, M.D., Department of Pediatrics, Faculty of Medicine & Dentistry, University of Alberta. “Patients and families in these provinces can now access a treatment that addresses a root cause of their disease, offering hope and improved quality of life.”

IMCIVREE was approved by Health Canada in May 2023 following priority review and was recently added to the common list of new drugs for rare diseases, as part of the Government of Canada's National Strategy for Drugs for Rare Diseases. The Common Drug List ensures that the National Strategy for Drugs for Rare Diseases provides the greatest possible benefit to all patients with rare diseases.

“These agreements are an important recognition of the substantial burden of obesity associated with this rare disease,” said Carol Stiff, General Manager, Rhythm Canada. “We continue to engage with all provinces and territories to work toward equitable access in Canada for all patients living with obesity due to BBS.”

About Bardet-Biedl Syndrome

BBS is a rare autosomal recessive ciliopathy that presents with a variety of symptoms that evolve over time, including hyperphagia, early-onset, severe obesity, visual impairment, polydactyly, genital abnormalities, renal dysfunction, and cognitive impairment.

About Rhythm Pharmaceuticals
Rhythm is a commercial-stage biopharmaceutical company committed to transforming the lives of patients and their families living with rare neuroendocrine diseases. Rhythm’s lead asset, IMCIVREE^® (setmelanotide), an MC4R agonist is approved by the FDA to reduce excess body weight and maintain weight reduction long term in adult and pediatric patients 2 years of age and older with syndromic or monogenic obesity due to Bardet-Biedl syndrome (BBS) or genetically confirmed pro-opiomelanocortin (POMC), including proprotein convertase subtilisin/kexin type 1 (PCSK1), deficiency or leptin receptor (LEPR) deficiency. Both the European Commission (EC) and the UK’s Medicines & Healthcare Products Regulatory Agency (MHRA) have authorized setmelanotide for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or genetically confirmed loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 2 years of age and above. Additionally, Rhythm is advancing a broad clinical development program for setmelanotide in other rare diseases, as well as investigational MC4R agonists bivamelagon and RM-718, and a preclinical suite of small molecules for the treatment of congenital hyperinsulinism. Rhythm’s headquarters is in Boston, MA.

Setmelanotide Indication
In Canada, IMCIVREE (setmelanotide solution for subcutaneous injection) is indicated for weight management in adult and pediatric patients 6 years of age and older with obesity due to: Bardet-Biedl syndrome (BBS) Genetically confirmed biallelic pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR) deficiency due to variants interpreted as pathogenic, likely pathogenic, or of uncertain significance.

In the United States, setmelanotide is indicated to reduce excess body weight and maintain weight reduction long term in adult and pediatric patients aged 2 years and older with syndromic or monogenic obesity due to Bardet-Biedl syndrome (BBS) or pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR) deficiency as determined by an FDA-approved test demonstrating variants in POMC, PCSK1, or LEPR genes that are interpreted as pathogenic, likely pathogenic, or of uncertain significance (VUS).

In the European Union and the United Kingdom, setmelanotide is indicated for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 2 years of age and above. In the European Union and the United Kingdom, setmelanotide should be prescribed and supervised by a physician with expertise in obesity with underlying genetic etiology.

Limitations of Use

Setmelanotide is not indicated for the treatment of patients with the following conditions as setmelanotide would not be expected to be effective:

• Obesity due to suspected POMC, PCSK1, or LEPR deficiency with POMC, PCSK1, or LEPR variants classified as benign or likely benign
• Other types of obesity not related to BBS or POMC, PCSK1, or LEPR deficiency, including obesity associated with other genetic syndromes and general (polygenic) obesity
  

CONTRAINDICATION

Prior serious hypersensitivity to setmelanotide or any of the excipients in IMCIVREE. Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported.

WARNINGS AND PRECAUTIONS

Disturbance in Sexual Arousal: Spontaneous penile erections in males and sexual adverse reactions in females have occurred. Inform patients that these events may occur and instruct patients who have an erection lasting longer than 4 hours to seek emergency medical attention.

Depression and Suicidal Ideation: Depression, suicidal ideation and depressed mood have occurred. Monitor patients for new onset or worsening depression or suicidal thoughts or behaviors. Consider discontinuing IMCIVREE if patients experience suicidal thoughts or behaviors, or clinically significant or persistent depression symptoms occur.

Hypersensitivity Reactions: Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported. If suspected, advise patients to promptly seek medical attention and discontinue IMCIVREE.

Skin Hyperpigmentation, Darkening of Pre-existing Nevi, and Development of New Melanocytic Nevi: Generalized or focal increases in skin pigmentation, darkening of pre-existing nevi, development of new melanocytic nevi and increase in size of existing melanocytic nevi have occurred. Perform a full body skin examination prior to initiation and periodically during treatment to monitor pre-existing and new pigmented lesions.

Risk of Serious Adverse Reactions Due to Benzyl Alcohol Preservative in Neonates and Low Birth Weight Infants: IMCIVREE is not approved for use in neonates or infants. Serious and fatal adverse reactions including “gasping syndrome” can occur in neonates and low birth weight infants treated with benzyl alcohol preserved drugs.

ADVERSE REACTIONS

Most common adverse reactions (incidence ≥20%) included skin hyperpigmentation, injection site reactions, nausea, headache, diarrhea, abdominal pain, vomiting, depression, and spontaneous penile erection.

USE IN SPECIFIC POPULATIONS

Treatment with IMCIVREE is not recommended when breastfeeding. Discontinue IMCIVREE when pregnancy is recognized unless the benefits of therapy outweigh the potential risks to the fetus.

To report SUSPECTED ADVERSE REACTIONS, contact Rhythm Pharmaceuticals at +1 (833) 789-6337 or FDA at 1-800-FDA-1088 or http://www.fda.gov/medwatch. See section 4.8 of the Summary of Product Characteristics for information on reporting suspected adverse reactions in Europe.

Please see the full U.S. Prescribing Information for additional Important Safety Information. Please see the Canadian Product Monograph at https://rhythmtx.ca/wp-content/uploads/2023/05/IMCIVREE-Product-Monograph-EN.pdf for complete safety information for Canada.

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the safety, efficacy, potential benefits of, and clinical design or progress of any of our products or product candidates, including setmelanotide, at any dosage or in any indication, the public reimbursement for IMCIVREE (setmelanotide) in Canada in five provinces and under the NIHB and the potential impact of such reimbursement on eligible patient access and on our revenue in Canada. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. Such statements are subject to numerous risks and uncertainties, including, but not limited to, our ability to enroll patients in clinical trials, the design and outcome of clinical trials, the impact of competition, the ability to achieve or obtain necessary regulatory approvals, risks associated with data analysis and reporting, unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, risks associated with the laws and regulations governing our international operations and the costs of any related compliance programs, our ability to successfully commercialize setmelanotide, our liquidity and expenses, our ability to retain our key employees and consultants, and to attract, retain and motivate qualified personnel, and general economic conditions, and the other important factors, including those discussed under the caption “Risk Factors” in Rhythm’s Quarterly Report on Form 10-Q for the three months ended June 30, 2025 and our other filings with the Securities and Exchange Commission. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or otherwise.

Corporate Contact:
David Connolly
Head of Investor Relations and Corporate Communications
Rhythm Pharmaceuticals, Inc.
dconnolly@rhythmtx.com

Media Contact:
Layne Litsinger
Real Chemistry
llitsinger@realchemistry.com

FAQ

Which provinces in Canada publicly reimburse IMCIVREE (RYTM) as of November 5, 2025?

As of November 5, 2025, public reimbursement agreements cover IMCIVREE in Ontario, Alberta, British Columbia, Saskatchewan, and Nova Scotia, plus the Federal NIHB program.

Who is eligible for IMCIVREE coverage under the new Canadian listings for RYTM?

Eligible patients are adults and pediatric patients aged 6 years and older with clinically or genetically confirmed Bardet-Biedl syndrome and obesity.

When was IMCIVREE approved in Canada and what list was it added to?

IMCIVREE received Health Canada approval in May 2023 and was recently added to the Common Drug List for rare diseases under Canada’s national strategy.

Does the November 5, 2025 RYTM announcement guarantee access across all Canadian provinces?

No; the announcement confirms listings in five provinces and NIHB but does not cover all provinces and territories.

How does NIHB coverage affect Indigenous patients for IMCIVREE (RYTM)?

NIHB listing means eligible First Nations and Inuit beneficiaries covered by the program can access IMCIVREE under the federal benefit.