MNKD CEO Castagna's Track Record Speaks Volumes
Jun 4, 2017 8:57:03 GMT -5
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Post by mnholdem on Jun 4, 2017 8:57:03 GMT -5
Curious about MannKind's newest CEO's track record in the pharmaceuticals industries, I decided to delve into the sales results for Bristol-Myers Squibb's rheumatoid arthritis drug Orencia. Prior to his employment at Amgen, where he was Vice President, Global Commercial Lead for a portfolio of bio similar drugs, MannKind CEO Michael Castagna was Executive Director of Bristol-Myers Squibb's immunology franchise, where he served as co-lead to relaunch the rheumatoid arthritis drug Orencio.
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BMS revives Orencia DTC advertising after two-year absence
by Beth Snyder Bulik | Aug 17, 2015 9:23am
An old drug with a new trick? We'll see. After a long DTC hiatus, Bristol-Myers Squibb ($BMY) is taking a new tack with advertising its rheumatoid arthritis drug Orencia. The campaign for the decade-old drug emphasizes long-term relief and uses the new tagline, "See your RA in a different way."
The new DTC campaign could be a way to goose slightly slowed Orencia sales by reminding patient that it's an option. The effort also comes as biosimilar RA drugs move closer to market. BMS said the campaign began July 27 as a multi-channel effort, including print, and specifically targets patients with moderate to severe rheumatoid arthritis.
"For the nearly 10 years Orencia has been on the market, Bristol-Myers Squibb has been committed to helping the millions of patients living and working with rheumatoid arthritis every day," said Jennifer Herron, VP, U.S. Immunology, in an email interview. "With this campaign, we want to accurately reflect the impact that rheumatoid arthritis has on patients' lives."
The previous Orencia DTC campaign ended in May 2013 and carried the tagline "Oh Yes I Can."
Worldwide revenues for Orencia 2014 were $1.65 billion.
Source: www.fiercepharma.com/dtc-advertising/bms-revives-orencia-dtc-advertising-after-two-year-absence
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What have been the results of the DTC that Castagna helped relaunch? A analysis entitled, "Analyzing Bristol-Myers Squibb’s 2016 Performance" validated that Orencia's relaunch was extremely successful:
The Immuno-Science segment, which includes Orencia, contributed nearly 11.6% of BMY’s total revenue in 2016, driven by a rise of 20% in Orencia sales to $2.3 billion in 2016 compared to 2015.
Source: marketrealist.com/2017/03/analyzing-bristol-myers-squibbs-2016-performance/
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So for those who question whether MannKind's newest CEO has the experience for the job, they may want to consider that MannKind has yet to have launched an effective DTC campaign for its FDA-approved Afrezza Inhaled Insulin (Human) and that Mike is ideally qualified to lead MannKind in taking Afrezza to the next level, a belief shared by MannKind's Chairman Kent Kresa in the press release announcing Mike's appointment as MannKind CEO:
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Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership."
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BMS revives Orencia DTC advertising after two-year absence
by Beth Snyder Bulik | Aug 17, 2015 9:23am
An old drug with a new trick? We'll see. After a long DTC hiatus, Bristol-Myers Squibb ($BMY) is taking a new tack with advertising its rheumatoid arthritis drug Orencia. The campaign for the decade-old drug emphasizes long-term relief and uses the new tagline, "See your RA in a different way."
The new DTC campaign could be a way to goose slightly slowed Orencia sales by reminding patient that it's an option. The effort also comes as biosimilar RA drugs move closer to market. BMS said the campaign began July 27 as a multi-channel effort, including print, and specifically targets patients with moderate to severe rheumatoid arthritis.
"For the nearly 10 years Orencia has been on the market, Bristol-Myers Squibb has been committed to helping the millions of patients living and working with rheumatoid arthritis every day," said Jennifer Herron, VP, U.S. Immunology, in an email interview. "With this campaign, we want to accurately reflect the impact that rheumatoid arthritis has on patients' lives."
The previous Orencia DTC campaign ended in May 2013 and carried the tagline "Oh Yes I Can."
Worldwide revenues for Orencia 2014 were $1.65 billion.
Source: www.fiercepharma.com/dtc-advertising/bms-revives-orencia-dtc-advertising-after-two-year-absence
---
What have been the results of the DTC that Castagna helped relaunch? A analysis entitled, "Analyzing Bristol-Myers Squibb’s 2016 Performance" validated that Orencia's relaunch was extremely successful:
The Immuno-Science segment, which includes Orencia, contributed nearly 11.6% of BMY’s total revenue in 2016, driven by a rise of 20% in Orencia sales to $2.3 billion in 2016 compared to 2015.
Source: marketrealist.com/2017/03/analyzing-bristol-myers-squibbs-2016-performance/
---
So for those who question whether MannKind's newest CEO has the experience for the job, they may want to consider that MannKind has yet to have launched an effective DTC campaign for its FDA-approved Afrezza Inhaled Insulin (Human) and that Mike is ideally qualified to lead MannKind in taking Afrezza to the next level, a belief shared by MannKind's Chairman Kent Kresa in the press release announcing Mike's appointment as MannKind CEO:
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Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. 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. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership."