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Post by sportsrancho on Jul 27, 2018 19:28:44 GMT -5
Replying to tomtabb.... You are just seeing part of the conversation.
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Post by morgieporgie on Jul 27, 2018 19:31:25 GMT -5
This PR is not about weekly sales increases (Tanner sales will not show up there) or international partnerships for specific markets or desperation. It it also not cryptic at all. It is clearly about getting Afrezza to patients around the world NOW. “Al Mann had a vision of making Afrezza available to all people living with diabetes around the world and this agreement helps accelerate that access to Afrezza on a named patient access basis in underserved international markets,” said Michael Castagna, Chief Executive Officer of MannKind. “Our partnership with Tanner Pharma to distribute Afrezza provides us a strong partner with a track record of success in working with physicians, hospitals and ministries of health to provide medicine that is not currently available in their country.” Every physician or hospital in Tanner's network of customers around the world will NOW be able to get Afrezza for their patients. That is a very good thing for all. Go MNKD! [ I think this is the International deal they were talking about, although hope not. |
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Post by cedafuntennis on Jul 27, 2018 20:37:14 GMT -5
Items is not the same as units. Afrezza is an item, but it may sell 100,000 units in a year.
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Post by lennymnkd on Jul 27, 2018 20:47:38 GMT -5
I know this is anti-social but lets look at this a bit more clearly. Tanner is a portfolio company of Bourne Partners, and TannerGAP is a subsidiary of Tanner Pharma. So Bourne bought out two healthcare companies and put them together to make Tanner Pharma. Fairly standard IB stuff, buy some components and see if you can make a viable business. This does not mean Tanner have the keys to Bourne's treasury, quite the opposite, they will be on a very tight leash. Bourne and Carlyle. Meh. I was once in a deal with Deutsche Bank and trust me we were really insignificant, but it meant we could say we had been in deal with DB. I am not saying that is the case here, but deals are very much a marriage of convenience and I would read zero meaning into them. The bottom line is that Mannkind has a channel for supplying Afrezza to foreign countries, a while back there was a company doing this with India. It is very unlikely to amount to much but it ticks a box and at least shows they are paying attention to the details. Your saying mike put this deal together to embellish mnkd’s resume  ?? |
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Post by agedhippie on Jul 27, 2018 22:04:12 GMT -5
I know this is anti-social but lets look at this a bit more clearly. Tanner is a portfolio company of Bourne Partners, and TannerGAP is a subsidiary of Tanner Pharma. So Bourne bought out two healthcare companies and put them together to make Tanner Pharma. Fairly standard IB stuff, buy some components and see if you can make a viable business. This does not mean Tanner have the keys to Bourne's treasury, quite the opposite, they will be on a very tight leash. Bourne and Carlyle. Meh. I was once in a deal with Deutsche Bank and trust me we were really insignificant, but it meant we could say we had been in deal with DB. I am not saying that is the case here, but deals are very much a marriage of convenience and I would read zero meaning into them. The bottom line is that Mannkind has a channel for supplying Afrezza to foreign countries, a while back there was a company doing this with India. It is very unlikely to amount to much but it ticks a box and at least shows they are paying attention to the details. Your saying mike put this deal together to embellish mnkd’s resume ?? You could view it like that, I prefer to think of it as basic corporate housekeeping (cover the available markets). I like the idea of a company having a resume  . |
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Post by patten1962 on Jul 27, 2018 22:44:10 GMT -5
Trying to keep up with all posts. If this has been asked, sorry.
Any idea of when we will start seeing overseas sales?
Will this deal be faster then Brazil?
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Post by mannmade on Jul 27, 2018 23:59:23 GMT -5
Yes patten there is some reasonable speculation it could be as early as 4th Q this year or 1Q next.
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Post by boca1girl on Jul 28, 2018 8:04:47 GMT -5
I can’t understand why so many are disappointed in this deal.
How does it hurt us to have a distributor that can reach more PWD around the globe?
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Post by golfeveryday on Jul 28, 2018 8:20:30 GMT -5
I can’t understand why so many are disappointed in this deal. How does it hurt us to have a distributor that can reach more PWD around the globe? it doesn’t hurt all. It’s a good deal for where MNKD sits. Allows access globally, while they work on real deals. |
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Post by MnkdWASmyRtrmntPlan on Jul 28, 2018 8:39:28 GMT -5
I can’t understand why so many are disappointed in this deal. How does it hurt us to have a distributor that can reach more PWD around the globe? it doesn’t hurt all. It’s a good deal for where MNKD sits. Allows access globally, while they work on real deals. Exactly my thoughts, BG. I think the underlying disappointment for most here is that this probably killed their hopes/dreams of a distributor deal with large sums of upfront money. Although, since this does not seem to be an exclusive deal, distributor deals with upfront money (say, for China?) are also still possible. So, it's all good. Just not good enough to fulfill our dreams and send the SP sailing. Still waiting ... and waiting. But, still hopeful. Very hopeful. And, still confident. |
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Post by golfeveryday on Jul 28, 2018 8:57:34 GMT -5
it doesn’t hurt all. It’s a good deal for where MNKD sits. Allows access globally, while they work on real deals. Exactly my thoughts, BG. I think the underlying disappointment for most here is that this probably killed their hopes/dreams of a distributor deal with large sums of upfront money. Although, since this does not seem to be an exclusive deal, distributor deals with upfront money (say, for China?) are also still possible. So, it's all good. Just not good enough to fulfill our dreams and send the SP sailing. Still waiting ... and waiting. But, still hopeful. Very hopeful. And, still confident. it didn’t include the US, so their strategy is clearly different here. Bring on the cash paying partner please. |
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Post by matt on Jul 28, 2018 9:10:58 GMT -5
I can’t understand why so many are disappointed in this deal. How does it hurt us to have a distributor that can reach more PWD around the globe? The term "distributor" is exceedingly vague and that is part of the confusion. I used to work for a huge multi-line distributor in the industry and we moved product at a gross margin from 4% to 42%. We handled the 4% stuff mainly because our customers wanted us to, but we put in zero effort into sales and the manufacturer was responsible for any and all promotion. Likewise, our payable terms on that 4% business were so generous that we essentially had no working capital tied up. Conversely, on the 42% business we did almost everything but manufacture the product. The manufacturer was a tiny company without any infrastructure of their own, and we both did nicely under the arrangement. If Tanner is like most of the distributors exporting to foreign countries without a dedicated deal they are more like the first business; more order takers than salesmen. They don't spend any time or money promoting the drug, but if orders come in then they will fill them. Just doing the customs paperwork for drug exports is a headache so they earn their commission from that alone, but don't expect them to go door to door promoting the drug; that is not the structure of the business. Most often their business revolves around physicians who have seen a product while visiting a medical meeting in the US or elsewhere, or a wealthy patient that wants to try the drug, but it is still MNKD that has to make the sale. If MNKD gets a sales request, they will pass it along to Tanner. The other thing to keep in mind is that in most of the countries where companies like Tanner do business there are strict, very strict, currency controls. Getting an order is one thing, but getting paid is something quite different and just a few weeks of delay getting paid a hyperinflationary country will wipe out the value of the sale in economic terms. Most of these sales have to be done under a commercial letter of credit or are prepaid on a Visa card linked to a US / EU / Swiss bank. Wealthy patients have foreign bank accounts and free access to hard currency, but most people living in these places do not. This is situation normal for international distributors so they provide value since they know how to deal with foreign monetary instruments, but they do not have enough margin in the business to assume the risk of non-payment so they have to be tough on payment guarantees; many orders simply never get filled because of credit issues. So it is a mixed bag; it never hurts to have more distributors that are willing to handle your product so long as the distributor has their act together and are not more headache than they are worth. It does make Afrezza available to a lot more patients and that is a good thing. However, be realistic about what it takes to do business in most parts of the world because often it is not pretty. Expect some incremental sales, but don't expect Tanner sales to contribute meaningfully to the income statement. |
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Post by lakers on Jul 28, 2018 14:49:46 GMT -5
Headquartered in the U.S., Tanner’s reach includes Europe, Northeast Asia, Southeast Asia, the Middle East, Australia, Canada and Latin America, including Brazil, Mexico, the Caribbean, Central America and all of South America. Following is a similar deal. Tanner is based in Charlotte, NC, where MC, the CMO had presentation with UNC, Duke recently. www.tannerpharma.com/tanner-pharma-group-signs-distribution-agreement-partner-therapeutics-product-leukine/ |
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Post by mike0475 on Jul 28, 2018 15:35:37 GMT -5
Banks is also the founder of Bourne Partners, a leading financial services firm. For over 20 years, Bourne Partners has transacted with nearly all major pharmaceutical and specialty pharmaceuticals companies around the world, including Banks’ initial investment in King Pharmaceuticals in the late 1990’s. This investment introduced Banks to the pharmaceutical world and jumpstarted his interest in the healthcare sector. Since then, Bourne Partners has been party to more than $10 billion of transactions in pharmaceutical (“pharma”), pharma services and consumer health, and Banks has invested in more than 200 private companies / assets since 2000. Most recently the Bourne Team and other partners co-founded Covis Pharma S.à.r.l. in 2011, successfully helping build and eventually divest the majority of assets in 2015 for $1.2 billion. In late 2015 the firm established Phoenix Therapeutics, Inc., a joint venture with The Carlyle Group.
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Post by Clement on Jul 28, 2018 15:44:29 GMT -5
Headquartered in the U.S., Tanner’s reach includes Europe, Northeast Asia, Southeast Asia, the Middle East, Australia, Canada and Latin America, including Brazil, Mexico, the Caribbean, Central America and all of South America. Following is a similar deal. Tanner is based in Charlotte, NC, where MC, the CMO had presentation with UNC, Duke recently. www.tannerpharma.com/tanner-pharma-group-signs-distribution-agreement-partner-therapeutics-product-leukine/John Buse is at UNC Medicine in Chapel Hill, NC. Chapel Hill is about 20 miles from Durham, NC, where Duke University is located. Chapel Hill is about 140 miles from Charlotte, NC. More about Buse at www.med.unc.edu/pulmonary/endocrinology-metabolism/clinical-faculty/john-buse-md-phd(Buse is on the Mannkind SAB.) |
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