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Post by broncolife on May 31, 2017 17:02:03 GMT -5
Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor.” Mr. Kresa continued, “Michael demonstrated deep commercial expertise in his prior role as MannKind’s Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. ---------- Do you guys think this was planned or just written to sound like it? I might have missed some posts:-) Been real busy on Twitter... Sports, we miss ya on ST! Sure sounds planned to me! Thanks for the response!
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Post by broncolife on May 31, 2017 17:03:42 GMT -5
Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor.” Mr. Kresa continued, “Michael demonstrated deep commercial expertise in his prior role as MannKind’s Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. ---------- Do you guys think this was planned or just written to sound like it? I might have missed some posts:-) Been real busy on Twitter... That's a tough one......"effectively prepared Michael to be his successor.” this statement sounds like it was planned but was the preparation through mutual collaboration or was it through argumentation over the proper direction which would cause Mike to develop a forward plan on his own? One cannot tell. I would like to think it is the former and that Matt has just been worn down and wanted out. I really don't see Matt as the kind of guy that would give up however. "as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth." This sounds like he developed his own market strategy to me and let's face it, the reason Matt hired Mike is because Matt is a numbers guy and not a Marketing Specialist. We can't really know what the real story is, all we can do is speculate........like most things with Mannkind. Thanks for the response, and your right as usual we are left to speculate.
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Post by jonny80s on May 31, 2017 18:26:02 GMT -5
I hate the Amgen theory. Not because i wouldn't love Amgen to buy MNKD but because there is NOTHING factual linking Amgen in any way to wanting to purchase Mannkind. The only valid point is that there are now multiple former Amgen employees working for Mannkind. That is it. People move around the industry all the time and it does not mean the company is interested in a buy out. Pushing this false and speculative narrative takes away from everything else positive that Mannkind has going on. Let it go people, it's doing more harm than good. Reminds me of Microsoft's acquisition of Nokia's Devices division (Stephen Elop). Watch Mike continue to build out synergies with Amgen in Mannkind.... down the road Amgen acquires part or all of Mannkind....
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Post by broncolife on May 31, 2017 18:28:33 GMT -5
I hate the Amgen theory. Not because i wouldn't love Amgen to buy MNKD but because there is NOTHING factual linking Amgen in any way to wanting to purchase Mannkind. The only valid point is that there are now multiple former Amgen employees working for Mannkind. That is it. People move around the industry all the time and it does not mean the company is interested in a buy out. Pushing this false and speculative narrative takes away from everything else positive that Mannkind has going on. Let it go people, it's doing more harm than good. Reminds me of Microsoft's acquisition of Nokia's Devices division (Stephen Elop). Watch Mike continue to build out synergies with Amgen in Mannkind.... down the road Amgen acquires part or all of Mannkind.... Thanks for the reply!
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Post by sophie on May 31, 2017 18:37:50 GMT -5
Does a company with as deep of pockets as Amgen has entrust such a large asset to an unproven, inexperienced CEO, especially when they could probably go out and pick a better one? Second he might or might not remain as the CEO depending on how they label MNKD after the acquisition. Again thanks for the input. Is there a point in making him CEO now instead of Matt? They could still acquire MNKD with Matt as CEO. I'm just not following.
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Post by #NoMoreNeedles on Jun 1, 2017 10:43:06 GMT -5
I think there is no Amgen connection at all; they are going it alone this time. Matt believed in focusing only on the USA market, whereas now Mike is taking a global approach including the MOU with OneDrop. The Street did not trust Matt and the share price collapsed accordingly. The Street dropped analyst coverage altogether. Matt was never a confident presenter, Mike is. He has the winner mentality. For me this is a long-term retirement investment ... I can wait
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Post by bradleysbest on Jun 1, 2017 10:56:31 GMT -5
Amgen might be interested down the road after Afrezza can show sales. Mike's in game adjustment to other countries is a great move, coupled with all the other stuff going on Onedrop, Reversed, etc....
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Post by boca1girl on Jun 1, 2017 11:12:25 GMT -5
Amgen might be interested down the road after Afrezza can show sales. Mike's in game adjustment to other countries is a great move, coupled with all the other stuff going on Onedrop, Reversed, etc.... Matt hired the executive responsible for overseas expansion, not Mike. Matt has probably been responsible for much of the forward progress we are now starting to see come to fruition.
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Post by broncolife on Jun 1, 2017 11:36:49 GMT -5
Thanks to all who replied.
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Post by factspls88 on Jun 1, 2017 11:45:51 GMT -5
I think the Amgen scenario is perfectly reasonable to posit. The thought crossed my mind when Mike first came over, and seemed more possible when the HR person from Amgen was hired. That said, I'd prefer Mannkind operate as an independent entity so that I could see the fruits of my patience and suffering amply rewarded on an ongoing basis . Either that, or give me a big juicy buyout price from Amgen well above where we are now. As for Matt being responsible for much of the recent forward progress - I doubt it. His sidelining would suggest otherwise. Matt did a good job of keeping the company alive and I am grateful for that. But Mike is the one who has the skills to put together and execute a solid marketing plan for Afrezza, as he is doing now.
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Post by sayhey24 on Jun 1, 2017 12:36:45 GMT -5
Second he might or might not remain as the CEO depending on how they label MNKD after the acquisition. Again thanks for the input. Is there a point in making him CEO now instead of Matt? They could still acquire MNKD with Matt as CEO. I'm just not following. Going into ADA 2017 they wanted Mike as the face of negotiations and to give him credit for the deals. He now has two recent deals he can point to. I don't know about an Amgen acquisition. Mike said at the ASM he was looking to do a deal with someone who has 300-500 sales guys. He sounded like he had someone in mind to address the T2 PCP market. Does Amgen fit that bill as a sales partner/distributor who would guarantee a minimum sales volume? They have ZERO diabetes experience.
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Post by brotherm1 on Jun 1, 2017 13:52:20 GMT -5
Amgen sells drugs related to helping with diabetes issues, do they not? I would think then their reps would be edumacated about diabetes. Regardless, I believe Amphaster might eventually be a leading viable prospect given their inhalation products, insulin manufacturing, and global positioning.
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Post by rockstarrick on Jun 1, 2017 15:45:00 GMT -5
Amgen sells drugs related to helping with diabetes issues, do they not? I would think then their reps would be edumacated about diabetes. Regardless, I believe Amphaster might eventually be a leading viable prospect given their inhalation products, insulin manufacturing, and global positioning. You left out Generics fyi
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Post by kc on Jun 1, 2017 17:33:34 GMT -5
I think there is no Amgen connection at all; they are going it alone this time. Matt believed in focusing only on the USA market, whereas now Mike is taking a global approach including the MOU with OneDrop. The Street did not trust Matt and the share price collapsed accordingly. The Street dropped analyst coverage altogether. Matt was never a confident presenter, Mike is. He has the winner mentality. For me this is a long-term retirement investment ... I can wait I personally like Matt. But agree with you that the Analyst and the Street don't like anything to do with the old MannKind image. I think that over the last 16 months Matt has done the Job very well as we would not have Mike and his team had it not been for the work that Matt did in bringing on the next generation of MannKind leaders. So give Matt the credit he is due.
The board must have planned this out as its timing seems to make it suspect of a changing of the guard. They wanted to continuity of having Matt on board for the Shareholders meeting and for the 1st qtr call. Thinking back when on that 1st qtr call they didn't take any questions but had a few from Shareholders. It was evident that MannKind is not even followed by any analyst at this point. Written off for dead. The board knew this and had to make a change as a true living / breathing company has more open and transparent visibility that Matt was not comfortable with being that type of leader. Lets face it CFO bean counters are not Big PR hype type folks.
The 2nd indication something was up was they didn't take any questions at the shareholders meeting. that is very odd. Was that a tip off to Matt's departure? I would not think so but it is a signal that some thing is up. Good or bad there is something going on behind the scenes.
Frankly I have not had the confidence in the Board as they don't seem invested in the company. I don't know the amount of stock they own but when it comes to insider ownership we are on the poor side as there is not much owned by Management or the board of directors. That should be a tip off to all of us regarding management engagement. Al & Hakan had the most shares. nobody else including Matt had many shares.
Let's hope the worst is behind us and that something positive is ahead shareholders.
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Post by sportsrancho on Jun 1, 2017 18:30:18 GMT -5
Agree with every word kc.
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