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Post by peppy on Jul 27, 2018 10:40:45 GMT -5
I have not seen "exclusive" anywhere. So this may be just another "distribution avenue". It all counts though. It may make logistics better and easier to sales forces and/or medics around the world. I am optimistic that the next corp meeting will provide details. agree with your observation. Here are a few of my observations on this: a. this distribution arrangement probably is not an exclusive distribution arrangement, as wmdhunt noted above. Note the language "The agreement names Tanner as a distributor of Afrezza® outside of the United States in regions the product is not yet registered." b. Further to the observation under item a. above, I would assume this arrangement is in addition to whatever partnership/ self-filing that Mannkind is working on (Europe, Canada, Mexico, China, Middle East), etc., as noted by Mike in previous conference calls/presentations. Matt’s post on this probably is what the two parties are thinking of (i.e., where Mannkind has not signed a distribution agreement or filed for approval itself, Tanner Pharmacy will have the rights to distribute Afrezza to the customers there). c. Tanner Pharmacy/Bourne Partner probably is not as niche or small as some would think. See a few relevant reports below. 1. The Carlyle Group and Bourne Partners Form Phoenix Therapeutics to Build Global Pharma Company NEW YORK, NY and CHARLOTTE, NC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced today that it has formed a joint venture with Bourne Partners, a healthcare-focused investor, operator and investment banking firm, to build a global pharmaceutical platform. This new venture, known as Phoenix Therapeutics, will be owned by Carlyle Partners VI, a $13 billion U.S. buyout fund, with a minority investment from Bourne Partners. Leveraging the financial resources and experience of Carlyle and Bourne, Phoenix Therapeutics will look to operate a pharmaceutical platform built through acquisitions. Phoenix Therapeutics will consider a range of acquisitions, including product and asset acquisitions, corporate acquisitions and carve-outs. www.carlyle.com/media-room/news-release-archive/carlyle-group-and-bourne-partners-form-phoenix-therapeutics-build 2. Partner Therapeutics (PTx) Acquires Leukine® from Sanofi www.prnewswire.com/news-releases/partner-therapeutics-ptx-acquires-leukine-from-sanofi-300591625.htmlTanner Pharma Group Signs a Distribution Agreement for Partner Therapeutics’ Product, Leukine® www.tannerpharma.com/tanner-pharma-group-signs-distribution-agreement-partner-therapeutics-product-leukine/Since quarterly conference call is only a few days away, let’s see what additional details Mannkind will provide regarding this distribution arrangement. Carlyle is public. so Carlyle, Bourne, Tanner. |
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Post by Deleted on Jul 27, 2018 10:42:39 GMT -5
The timing of this release and < 1 week notice of the quarterly call is worth contemplating. There is another shoe in play, or more details to follow. jmho Yep, something else is absolutely going on. |
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Post by lennymnkd on Jul 27, 2018 10:43:43 GMT -5
Mike did say scripts to 5000 / I’m giving him the benefit of the doubt!
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Post by peppy on Jul 27, 2018 10:43:55 GMT -5
Carlyle Group For Immediate Release May 1, 2018 The Carlyle Group Announces First Quarter 2018 Financial Results • U.S. GAAP results included net income attributable to The Carlyle Group L.P. common unitholders of $34 million, or $0.30 per common unit on a diluted basis, for Q1 2018 • Economic Income of $169 million on a pre-tax basis and Economic Net Income of $0.47 per Adjusted Unit on a post-tax basis in Q1 2018, driven by 3% carry fund portfolio appreciation • Distributable Earnings of $139 million on a pre-tax basis for Q1 2018 and $0.36 per common unit on a post-tax basis in Q1 2018 • Declared a quarterly distribution of $0.27 per common unit for Q1 2018 • Net accrued performance revenues of $1.8 billion as of Q1 2018, up 4% from year end 2017 • $5.6 billion in realized proceeds in Q1 2018 and $28.0 billion realized over the last twelve months • $4.0 billion of invested capital in Q1 2018 and $21.6 billion invested over the last twelve months • $7.7 billion in capital raised in Q1 2018 and $48.0 billion raised over the last twelve months Washington, DC – Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) today reported its unaudited results for the first quarter ended March 31, 2018. Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin said, “Carlyle is off to a strong start in 2018. We are benefiting from robust fundraising activity that is driving increased scale in our fund platforms and we remain on track to generate significantly higher Fee Related Earnings by the fourth quarter of 2018. Fund performance remains solid with first quarter carry fund appreciation of 3% substantially exceeding volatile public markets.” U.S. GAAP results for Q1 2018 included income before provision for income taxes of $126 million, and net income attributable to The Carlyle Group L.P. common unitholders of $34 million, or net income per common unit of $0.30, on a diluted basis. U.S. GAAP results for the twelve months ended March 31, 2018 included income before provision for income taxes of $930 million and net income attributable to The Carlyle Group L.P. common unitholders of $189 million. Total balance sheet assets were $13 billion as of March 31, 2018. ir.carlyle.com/static-files/39498375-b198-44a1-abc6-8eadbea8fd3c |
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Post by jlaw277 on Jul 27, 2018 10:44:57 GMT -5
I have not seen "exclusive" anywhere. So this may be just another "distribution avenue". It all counts though. It may make logistics better and easier to sales forces and/or medics around the world. I am optimistic that the next corp meeting will provide details. agree with your observation. Here are a few of my observations on this: a. this distribution arrangement probably is not an exclusive distribution arrangement, as wmdhunt noted above. Note the language "The agreement names Tanner as a distributor of Afrezza® outside of the United States in regions the product is not yet registered." b. Further to the observation under item a. above, I would assume this arrangement is in addition to whatever partnership/ self-filing that Mannkind is working on (Europe, Canada, Mexico, China, Middle East), etc., as noted by Mike in previous conference calls/presentations. Matt’s post on this probably is what the two parties are thinking of (i.e., where Mannkind has not signed a distribution agreement or filed for approval itself, Tanner Pharmacy will have the rights to distribute Afrezza to the customers there). c. Tanner Pharmacy/Bourne Partner probably is not as niche or small as some would think. See a few relevant reports below. 1. The Carlyle Group and Bourne Partners Form Phoenix Therapeutics to Build Global Pharma Company NEW YORK, NY and CHARLOTTE, NC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced today that it has formed a joint venture with Bourne Partners, a healthcare-focused investor, operator and investment banking firm, to build a global pharmaceutical platform. This new venture, known as Phoenix Therapeutics, will be owned by Carlyle Partners VI, a $13 billion U.S. buyout fund, with a minority investment from Bourne Partners. Leveraging the financial resources and experience of Carlyle and Bourne, Phoenix Therapeutics will look to operate a pharmaceutical platform built through acquisitions. Phoenix Therapeutics will consider a range of acquisitions, including product and asset acquisitions, corporate acquisitions and carve-outs. www.carlyle.com/media-room/news-release-archive/carlyle-group-and-bourne-partners-form-phoenix-therapeutics-build 2. Partner Therapeutics (PTx) Acquires Leukine® from Sanofi www.prnewswire.com/news-releases/partner-therapeutics-ptx-acquires-leukine-from-sanofi-300591625.htmlTanner Pharma Group Signs a Distribution Agreement for Partner Therapeutics’ Product, Leukine® www.tannerpharma.com/tanner-pharma-group-signs-distribution-agreement-partner-therapeutics-product-leukine/Since quarterly conference call is only a few days away, let’s see what additional details Mannkind will provide regarding this distribution arrangement. Nice sleuthing. I recall that Kent Kresa has been very tied to Carlyle in the past. Perhaps there is more to this than meets the eye. www.carlyle.com/media-room/news-release-archive/kent-kresa-former-chairman-and-ceo-northrop-grumman-join-carlyleMr. Kent Kresa served as a Senior Advisor at The Carlyle group, Carlyle Partners IV, L.P., Carlyle Partners V, L.P. Mr. Kresa assisted The Carlyle group in developing strategy and identifying investments in Aerospace and Defense sectors. He served at Northrop Grumman Corporation as the Chairman from September 1990 to October 2003, Chief Executive Officer from January 1990 to March 2003 and as the President from 1987 to September 2001. He joined The Carlyle group in 1975 as a Vice President and as a Manager of research and technology center and he served as its Corporate Vice President from 1976 to 1982 and as the General Manager of the Ventura Division. In 1982, He served as Group Vice President of the firm's aircraft group and in 1986, served as the Senior Vice President of technology development and planning. He served as Non Executive Chairman of Avery Dennison Corporation from December 1999 to April 2010. Mr. Kresa was associated with the defense advanced research projects agency and the Lincoln Laboratory at the Massachusetts Institute of Technology. He serves as the Chairman Emeritus at Northrop Grumman Corporation. He served as the Chairman of The Music Center Of Los Angeles County Inc. from 2011 to April 2013. He served as Interim Non-Executive Chairman of Motors Liquidation Company from 2009 to July 2009. He served as the Chairman of the Board of Governors of the Aerospace Industries Association. Mr. Kresa has been the Chairman and Director at Mannkind Corp., since February 18, 2016 and June 2004 respectively and served as its Lead Director since November 17, 2011 until February 2016. He served as Vice Chairman of T-Ink Inc. He has been a Director of Chrysler Corporation since 1989. He also served on the Boards of The TCW Group, Inc. He serves as a Member of Technical Advisory Committee at Information Systems Laboratories, Inc. He also serves on the Board of Eclipse Aerospace, Inc. (Eclipse Aviation Corporation), Trust Company of the West, Advanced Bionics and several non-profit organizations and universities. He served as a Director of Avery Dennison Corp., from February 1999 to April 2010; Fluor Corporation from 2003 to April 29, 2014 and Atlantic Richfield Co., since 1993. He served as a Director of Old Carco LLC. He served as a Director at General Motors Corp., since October 6, 2003. He served as a Director of General Motors Company from July 10, 2009 to August 2010. He served as a Member of National Advisory Board at The Private Sector Council. Mr. Kresa serves as a Member of the National Academy of Engineering and the Chairman of the defense policy advisory committee on trade, a Member of the M.I.T. Lincoln Laboratory Advisory Board, a Director of the W. M. Keck Foundation and on the Board of Trustees of the California Institute of Technology, The Los Angeles World Affairs Council, The Alfred Mann Foundation and The John Tracy Clinic. He is also a Member of Draper Laboratories Inc. and serves on the Board of Governors of the Performing Arts Center of Los Angeles. He was elected the President of the American Institute of Aeronautics and Astronautics for a one-year term, which ended in May 2003. As a graduate of M.I.T., Mr. Kresa received a B.S. in 1959, an M.S. in 1961 and an E.A.A. in 1966, all in Aeronautics and Astronautics. |
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Post by compound26 on Jul 27, 2018 10:49:33 GMT -5
Additional cooperation between Bourne Partners and The Carlyle Group: Bourne Partners, The Carlyle Group and Industry Veterans Launch Millicent Pharma with Femring Acquisition May 21, 2018 bourne-partners.com/news/bourne-partners-the-carlyle-group-and-industry-veterans-launch-millicent-pharma-with-femring-acquisition/Charlotte, NC – May 21, 2018 – The Carlyle Group (“Carlyle”, NASDAQ: CG), a global alternative asset manager, and Bourne Partners (“Bourne”), a financial services firm focused in healthcare, along with pharma veterans Dr. John King, Roger Boissonneault and Geoffrey Elliot, have jointly launched Millicent Pharma. Millicent Pharma, the culmination of Phoenix Therapeutics (“Phoenix” the global pharmaceutical platform created by Carlyle and Bourne in 2015), seeks to build a global end-to-end pharmaceutical company through acquisition and the development of acquired pharmaceutical products. Femring, a vaginal ring treatment for menopausal women, was acquired from Allergan (NYSE: AGN) and serves as the first acquisition by Millicent Pharma. Founder and CEO of Bourne Partners, Banks Bourne commented, “When we formed our Phoenix partnership with Carlyle we knew we would be able to source a compelling team and other partnerships. Our 20+ year relationship with John and Roger represented an outstanding opportunity for Phoenix. We couldn’t think of a better team to fulfill Phoenix’s mission and strategy.”Dr. King will serve as Chairman of Millicent Pharma, Mr. Boissonneault as Chief Executive Officer (CEO) and Mr. Elliott as Chief Financial Officer (CFO). Prior to Millicent Pharma, Dr. King, Mr. Boissonneault and Mr. Elliott took Warner Chilcott (NYSE: WCRX) private (in 2005) and then took it public again in 2006, leading to its subsequent sale to Actavis in 2013 ($9 billion). WCRX was a global pharmaceutical company specializing in women’s health, gastroenterology, urology, and dermatology. At Warner Chilcott and its predecessor companies, Dr. King served as Non-Executive Chairman, Executive Chairman, and CEO, Mr. Boissonneault as CEO, and Mr. Elliott as CFO. Several former Warner Chilcott senior executives who have proven track records in the pharmaceutical industry are also joining the Millicent Pharma leadership team. Bourne Partners Strategic Capital (”BPSC”) and Carlyle are investors in Millicent. |
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Post by harryx1 on Jul 27, 2018 10:51:39 GMT -5
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Post by casualinvestor on Jul 27, 2018 10:54:54 GMT -5
And anyone that repeatedly tries to hammer down anyone saying anything good about news either has an agenda or is just a bad person deep down that likes to stomp on people's happiness. Possibly both. You have 7 posts in an hour, not counting this one. My agenda is wanting this company to turn around, and I’m posting that I’m upset with this cryptic PR that does nothing for managemtn’s credibility. Didn’t know only positivity was allowed on this board and nobody should take the opposing side. Please do share what you think is so good about this... What's good about it is that there is now a distribution outlet for all the places in the world that don't/won't have a partner. This means that more people worldwide will have access, depending on local laws, that did before. I'd guess that this access will be expensive and low volume. Why would you not want this deal? It's not exclusive and expands the sales geography. Are upset that this deal is not good enough, and you wanted more? The PR is cryptic to you? I'm betting the industry gets it well enough. For the rest of us we wait for more knowledgeable people to explain it on the boards. |
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Post by Clement on Jul 27, 2018 11:11:43 GMT -5
I sent Tanner an email for addiional details on their program for Afrezza, and for clarity concerning the 2014 distribution & customer satisfaction information on their website. Always a good idea to just ask instead of assume. 😎 Me, too. The response was: "Your message to mannkind@tannerpharma.com couldn't be delivered. mannkind wasn't found at tannerpharma.com." I notified IR at Mannkind about this. I hope Mango had better luck. Also, I went to the Tanner Pharma website and looked at the list of products. Afrezza was not there. I called the phone number for details about the Tanner Program for Afrezza. I was allowed to leave a message. If an analyst at a big brokerage house had the same experience as above, I wonder what he/she is thinking. |
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Post by tinkusr8215 on Jul 27, 2018 11:16:16 GMT -5
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Post by tinkusr8215 on Jul 27, 2018 11:19:29 GMT -5
My agenda is wanting this company to turn around, and I’m posting that I’m upset with this cryptic PR that does nothing for managemtn’s credibility. Didn’t know only positivity was allowed on this board and nobody should take the opposing side. Please do share what you think is so good about this... What's good about it is that there is now a distribution outlet for all the places in the world that don't/won't have a partner. This means that more people worldwide will have access, depending on local laws, that did before. I'd guess that this access will be expensive and low volume. Why would you not want this deal? It's not exclusive and expands the sales geography. Are upset that this deal is not good enough, and you wanted more? The PR is cryptic to you? I'm betting the industry gets it well enough. For the rest of us we wait for more knowledgeable people to explain it on the boards. This.
Imagine a PWD in South Africa who wants to try Afrezza. Instead of hunting a pharmacy or a mom and pop pharmacy, the PWD can reach out to Tanner pharma and get access to Afrezza.
Now the logistics part - who gets how much is not something we will know. But every PWD out there can get Afrezza through Tanner Pharma confidently that its a genuine product and not a counterfeit.
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Post by seanismorris on Jul 27, 2018 11:26:19 GMT -5
Just guessing, but my take is Tanner will distribute Afrezza to any country where FDA approval is good enough (or no regulatory is present).
That means Tanner won’t be the partner for the EU, China, etc.
It will probably allow MannKind to say Afrezza is sold in xyz (a larger number of) countries as a PR move.
It probably won’t result in a huge jump in sales, but will fill in the gaps where it’s not worth MannKind’s time to address individually.
If that’s the case, the announcement isn’t great news but it could be significant to boost total sales $$$ because scripts are so slow currently.
It isn’t bad news, because the places Tanner will address wouldn’t have resulted in upfront payments anyways.
On the other hand, Tanner won’t be very modivated to push Afrezza. But MannKind probably figured some sales is better than no sales.
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Post by mango on Jul 27, 2018 11:28:11 GMT -5
I sent Tanner an email for addiional details on their program for Afrezza, and for clarity concerning the 2014 distribution & customer satisfaction information on their website. Always a good idea to just ask instead of assume. 😎 Me, too. The response was: "Your message to mannkind@tannerpharma.com couldn't be delivered. mannkind wasn't found at tannerpharma.com." I notified IR at Mannkind about this. I hope Mango had better luck. Also, I went to the Tanner Pharma website and looked at the list of products. Afrezza was not there. I called the phone number for details about the Tanner Program for Afrezza. I was allowed to leave a message. If an analyst at a big brokerage house had the same experience as above, I wonder what he/she is thinking. X2 here but I also emailed Tanner's general inquiries email address. Please follow up if you get a response. |
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Post by awesomo on Jul 27, 2018 11:30:06 GMT -5
Me, too. The response was: "Your message to mannkind@tannerpharma.com couldn't be delivered. mannkind wasn't found at tannerpharma.com." I notified IR at Mannkind about this. I hope Mango had better luck. Also, I went to the Tanner Pharma website and looked at the list of products. Afrezza was not there. I called the phone number for details about the Tanner Program for Afrezza. I was allowed to leave a message. If an analyst at a big brokerage house had the same experience as above, I wonder what he/she is thinking. X2 here but I also emailed Tanner's general inquiries email address. Please follow up if you get a response. This inspires confidence? They couldn't even be bothered to set up the email account on the PR released? |
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Post by tinkusr8215 on Jul 27, 2018 11:38:09 GMT -5
X2 here but I also emailed Tanner's general inquiries email address. Please follow up if you get a response. This inspires confidence? They couldn't even be bothered to set up the email account on the PR released? may be the administrator had an emergency surgery? |
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