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Post by rockstarrick on May 17, 2019 11:12:47 GMT -5
Blaming the healthcare system at this point is like blaming the referees for loosing the game in the opponents home town. I am a long term holder. At this point we know the game and just need the strategy to win or just go home. I happen to respectfully disagree,, i ran into a scenario a few months back, where a med that I was being prescribed jumped from a $4 copay, to a $100 copay. After two months of very frustrating research, I learned that the $100 copay was simply because that particular rx was filled with product from a different company. Both generic versions of the exact same product,, confirmed by BCBS, and the Pharmacist. Now, if you are trying to market a product, and BCBS is charging your customers $96/rx more than a competitor, how easy is it for this company to successfully grow rx #’s. I honestly don’t know where the real problem lies,, the distributors, the insurance companies ?? But the fix, was don’t order product from that company. Payola at its finest |
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Post by winstonsmith on May 17, 2019 11:14:57 GMT -5
Who cares if he's upset? He's overpaid and has underperformed. I'm upset....not worrying about Mikey.
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Post by wgreystone on May 17, 2019 18:35:33 GMT -5
Who cares if he's upset? He's overpaid and has underperformed. I'm upset....not worrying about Mikey. The real question is if the company can find someone to perform better with the same pay. |
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Post by mytakeonit on May 18, 2019 1:36:08 GMT -5
No need to find someone else ... Mike C is doing fine.
But, that's mytakeonit
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Post by travis1953 on May 18, 2019 9:05:02 GMT -5
Has the CEO specified which states have sales teams working in them?
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Post by louaboardalia on May 18, 2019 13:01:58 GMT -5
First...I wish to thank the commenter who provided the audio of the meeting as it was very helpful and a clear example of tech-awareness that I now have in my kit.
Having now listened carefully to the recent meeting, I felt Mike and others were neither defensive nor nervous in their replies to the questions asked. Rather, I feel they were quite candid about their frustrations, the issues before them, and the paths being walked. In my own life I have made dozens of presentations before very large audiences (200+) where a great deal of hostile testimony was made in reply to the information being presented. It was not fun and takes extreme patience and understanding to listen to people who are angry and "in your face" as they vent their anger. I've never quite understood how people expect others to listen well when they are so angry in their presentations. Perhaps they among those who feel screaming at their children works.
I found Mike's replies to these angry questions to be painfully patient and professional, and I reject any notion he was defensive or nervous. Rather, he clearly accepted many of the points offered as ones he shared, explained what is being done to address those points, and was not the least bit evasive. In fact, I found him quite honest about what is not working and the frustration he feels. I get it that folks are angry and frustrated and burning our management team at the stake is very unproductive. Let us recall, this is the same team that has done a great deal to get MNKD up and rolling again after Sanofi tried its best to plant MNKD deep in the earth.
As for this board, rather than rant before your fellow investors, if you have good ideas, e-mail them to Mike. If you feel the need to air out ideas with others, Proboards is a great forum for that. But...simply ranking and raving here is of little value to anyone and fails to accommodate the reality we all share, most notably that MNKD does not have the deep pockets enjoyed by big pharma. Such deep pockets afford big phama many options for penetrating the market. It also affords them the ability to withstand the cost of options tried and failed.
MNKD, on the other hand, must face each incremental decision with careful consideration of its very limited funds, then make each decision based on what appears best at the time. When things work, they press on as we have seen. When things don't work, as we should expect them to retool their thinking and make better decisions. I believe Mike heard a lot about this at the meeting, though I doubt anything was a surprise as the issues are clear.
Given the obvious benefits of Afrezza, the issue is: How does MNKD penetrate the market and increase the number of prescriptions, despite the frustrating laziness of those relied upon to do the prescribing. This is a very difficult task, given doctor complacency, thus unwillingness to stay better informed. Perhaps the long-term spiral that is diabetes has left them believing all new treatments are just another shade of gray. Mike and others clearly accept this as a top priority and are working to better engage/inform prescribers.
While they are at that, we should give daily thanks to UTHR. for the financial lifeline.
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Post by ktim on May 18, 2019 13:18:12 GMT -5
Peppy, that’s exactly what Dr. K. expressed to me (shock) after the meeting. Even with the proof laid right in front of them, the doctors are still reluctant. It was obvious to me that are plugging along and not giving up. He used the phrase, “noise, chatter, and now real communication regarding Afrezza in the medical community”. When are you guys going to realize this is not like buying Keurig coffee machine or switching from a Ford to a Mercedes. Afrezza is a brand new therapy with a not so great label. Doctors don't have time to scan the internet or message boards or even read information on everything in the medical field. They rely heavily of STUDIES and DATA. Naturally when they see insulin being delivered via the LUNGS they are skeptical. They knew about Exubera and how it failed so it's in the back of their minds. Match that with a NON INFERIOR LABEL and the doctor is going to say...I'm not going to mess with this. So you have MNKD severely behind the 8 ball. It's going to be a SLOW PROCESS but once they get rolling it will SNOWBALL. MNKD is doing everything they can to inform and educate doctors. Some doctors will try it and love it. Others will experiment with one or two patients and wait a 6-12 mos. before they treat more patients. It's a tough situation for MNKD but they are up to the challenge. Also remember this is MNKD's FIRST FDA DRUG so they have no clout in the FDA nor the Doctor's offices. It's going to take time. While I'm not arguing that what you say is totally wrong, I would point out that the growth trajectory for NRx during the early Sanofi days was not bad, and better than we have now. It appears that docs were choosing to try Afrezza back then despite the things you state. What happened? Are there some (or many) docs that had poor experiences with titration and subsequent bad results and now not willing to give second chance? Yet another example of where I'd love management to provide discussion showing they understand what has happened. I don't. It's a bit concerning to me that at this time there is still "shock" being expressed at the impediments encountered. Frustration with impediments I could understand, but it should have moved from shock to understanding long ago. IMO |
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Post by joeypotsandpans on May 18, 2019 13:32:53 GMT -5
First...I wish to thank the commenter who provided the audio of the meeting as it was very helpful and a clear example of tech-awareness that I now have in my kit. Having now listened carefully to the recent meeting, I felt Mike and others were neither defensive nor nervous in their replies to the questions asked. Rather, I feel they were quite candid about their frustrations, the issues before them, and the paths being walked. In my own life I have made dozens of presentations before very large audiences (200+) where a great deal of hostile testimony was made in reply to the information being presented. It was not fun and takes extreme patience and understanding to listen to people who are angry and "in your face" as they vent their anger. I've never quite understood how people expect others to listen well when they are so angry in their presentations. Perhaps they among those who feel screaming at their children works. I found Mike's replies to these angry questions to be painfully patient and professional, and I reject any notion he was defensive or nervous. Rather, he clearly accepted many of the points offered as ones he shared, explained what is being done to address those points, and was not the least bit evasive. In fact, I found him quite honest about what is not working and the frustration he feels. I get it that folks are angry and frustrated and burning our management team at the stake is very unproductive. Let us recall, this is the same team that has done a great deal to get MNKD up and rolling again after Sanofi tried its best to plant MNKD deep in the earth. As for this board, rather than rant before your fellow investors, if you have good ideas, e-mail them to Mike. If you feel the need to air out ideas with others, Proboards is a great forum for that. But...simply ranking and raving here is of little value to anyone and fails to accommodate the reality we all share, most notably that MNKD does not have the deep pockets enjoyed by big pharma. Such deep pockets afford big phama many options for penetrating the market. It also affords them the ability to withstand the cost of options tried and failed. MNKD, on the other hand, must face each incremental decision with careful consideration of its very limited funds, then make each decision based on what appears best at the time. When things work, they press on as we have seen. When things don't work, as we should expect them to retool their thinking and make better decisions. I believe Mike heard a lot about this at the meeting, though I doubt anything was a surprise as the issues are clear. Given the obvious benefits of Afrezza, the issue is: How does MNKD penetrate the market and increase the number of prescriptions, despite the frustrating laziness of those relied upon to do the prescribing. This is a very difficult task, given doctor complacency, thus unwillingness to stay better informed. Perhaps the long-term spiral that is diabetes has left them believing all new treatments are just another shade of gray. Mike and others clearly accept this as a top priority and are working to better engage/inform prescribers. While they are at that, we should give daily thanks to UTHR. for the financial lifeline. Excellent take, read and post! |
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