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Protalix BioTherapeutics uses its ProCellEx platform to grow plant cells that produce therapeutic proteins. Its only commercial drugs are Elelyso for Gaucher disease and Elfabrio for Fabry disease, both enzyme replacement therapies. Product supply accounts for nearly all revenue.
Chiesi, its largest customer, markets Elfabrio worldwide. Protalix manufactures the drug substance and supplies the finished medicine to Chiesi, with supply payments linked to Chiesi’s selling prices; it can also receive payments when specified regulatory or commercial milestones are met. For Elelyso, Pfizer buys drug substance at a fixed price and markets the medicine outside Brazil, keeping its own product-sales revenue. In Brazil, Protalix sells the medicine to Fiocruz at a fixed price under the local brand BioManguinhos alfataliglicerase.
The business depends on these partners’ sales efforts and inventory orders, not just the number of patients treated. Partners can reduce or pause purchases while using existing stock, and Fiocruz has bought less than it committed to purchase. Protalix manufactures commercial drug substance in Israel. Israeli grant rules generally require special approval to move grant-funded manufacturing or related technology outside the country, limiting its ability to relocate or outsource those activities.
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Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Protalix also relies heavily on Chiesi’s Elfabrio commercialization and inventory orders and Fiocruz’s Elelyso purchases in Brazil, but neither company appears in this list.
Pfizer’s purchases directly feed Protalix’s revenue: it buys Elelyso drug substance at a fixed price to produce and sell the medicine outside Brazil, keeping the finished-product revenue. Watch Pfizer’s inventory orders rather than patient demand alone—de-stocking can temporarily halt purchases, while manufacturing issues drove higher purchases in 2025.
Sanofi competes with both Protalix medicines: it sells Cerezyme and oral Cerdelga for Gaucher disease against Elelyso, and Fabrazyme for Fabry disease against Elfabrio. Sales of these treatments are the relevant part of Sanofi’s results to watch for competitive pressure on Protalix.
Takeda competes for the same disease markets as Protalix, selling Vpriv for Gaucher disease against Elelyso and Replagal for Fabry disease against Elfabrio. Watch Vpriv and Replagal sales rather than Takeda’s overall revenue to gauge this rivalry.
Amgen’s Krystexxa competes with the uncontrolled-gout treatment Protalix is developing, rather than its currently sold medicines. Krystexxa sales are the relevant line to watch: Amgen sells it for adults with chronic gout that does not respond to conventional therapy.
Fed Interest Rate Decision
For Protalix, the Fed’s policy rate matters because interest on royalties owed for grant-funded products is based on SOFR, a benchmark interest rate, so changes in rates can change what it pays.
Expected4.0%Last release4.0%
If it comes in above expectations
If the Fed’s rate is higher than expected, higher rates across the economy may raise the interest Protalix pays on those royalty obligations, increasing its costs.
If it comes in below expectations
If the Fed’s rate is lower than expected, lower rates across the economy may reduce the interest Protalix pays on those royalty obligations, easing its costs.
Takeda Pharmaceutical Company Limited earningsTAK
Takeda’s Vpriv and Replagal sales will show whether those rival treatments are gaining ground against Protalix BioTherapeutics’ two medicines.
Look at Takeda’s Vpriv sales for Gaucher disease and Replagal sales for Fabry disease, not its overall revenue. Stronger sales would show rivals expanding in the same disease markets, sharpening the competitive challenge to Protalix’s Elelyso and Elfabrio; weaker sales would ease that signal, but would not establish how Protalix’s own products are selling.
Pfizer Inc. earningsPFE
Pfizer’s report can show whether its Elelyso purchases are rising or slowing, signaling a change in Protalix BioTherapeutics’ supply-revenue channel.
Watch Pfizer’s purchases of Elelyso drug substance, not patient demand alone: Protalix records revenue on delivery, and Pfizer’s inventory changes or manufacturing issues can affect orders. Higher purchases would support this revenue channel but would not necessarily mean more patient use; lower purchases would weaken it without proving patient demand has fallen.
Protalix BioTherapeutics, Inc. earningsThis company
Protalix BioTherapeutics’ report will show whether partner product purchases are keeping pace with its clinical-development spending.
Read product sales revenue alongside R&D spending, bearing in mind that Protalix records revenue when it delivers product to partners, not when patients receive treatment. Steady sales with contained R&D spending would show the commercial business is better supporting development; weaker sales alongside rising R&D spending would show partner purchases are not offsetting development costs, leaving funding pressure more important.
