Afrezza direct purchase program
Jan 7, 2019 17:50:30 GMT -5
mountainman, sportsrancho, and 9 more like this
Post by compound26 on Jan 7, 2019 17:50:30 GMT -5
Below is what Mike stated in the Jan. 4th conference call.
seekingalpha.com/article/4231518-mannkind-corporation-mnkd-ceo-michael-castagna-hosts-investor-conference-call-transcript?part=single
Brian Marckx
Mike, you mentioned a direct purchase program that you're going to implement. Can you give us a sense of what you think that may result in terms of incremental revenue? Is it significant do you believe?
Michael Castagna
I don't think it will be significant in terms of revenue, I’ll say profits more than revenue because we don't know until we announce this program. It's -- there's over about 400 – 400 to 500,000 prescriptions in a week in the U.S. and we see somewhere between 10 and 20,000 paying significant amount of money per week -- per month I'm sorry. And so, we don't know how much of that will be word-of-mouth, how do much that we going to find those people, how much of the doctors help those patients. And so that could be significant numbers of people. But it may not be, right, so that's why we're not putting a lot of weight on it, but we are going to launch a special introductory price for the first thousand people who sign-up during the month of January. And we kind of see how the program goes.
And so that's really our focus here as they try to address what we see is a pricing crisis for people paying cash for mealtime insulin. Hopefully we find good strategic partners to help patients, get better care, and they not rationing their insulin. And so that's part of our main focus is, we don't want the price points to stop patients from getting access to treatment. And I think that what's most important and we want to be part of that solution. So we’re very excited to have a solution with a direct purchase program where you can see all the middlemen do take up about over 50% of the cost at the end of the day when you add it all up.
And then it’s a very expensive process, right, if you're trying to hire sales force and a medical team and education and dinner events, I mean all that cost money. And so this will be a different program with a very different target and not one that you'll see our sales force from going to much more one that will be out there either through web sites and/or third party engagements we plan to do when we launch it.
_____________________________________________________________________________________________________________________________
If the transcripts got it right, Mike was saying "we are going to launch a special introductory price for the first thousand people who sign-up during the month of January." It is very unlikely Mike was referring January 2020. In all likelihood, he was probably referring to January 2019 and, guess what, we are in January 2019. If that is the case, seems like this program will be announced imminently, within one to two weeks, as there are only about four weeks left in the month of January.
Mike was also saying "So we’re very excited to have a solution with a direct purchase program where you can see all the middlemen do take up about over 50% of the cost at the end of the day when you add it all up.
" Did he say "So we’re very excited to have a solution with a direct purchase program"? Was he implying that the program is already there (just waiting to be announced?)
seekingalpha.com/article/4231518-mannkind-corporation-mnkd-ceo-michael-castagna-hosts-investor-conference-call-transcript?part=single
Brian Marckx
Mike, you mentioned a direct purchase program that you're going to implement. Can you give us a sense of what you think that may result in terms of incremental revenue? Is it significant do you believe?
Michael Castagna
I don't think it will be significant in terms of revenue, I’ll say profits more than revenue because we don't know until we announce this program. It's -- there's over about 400 – 400 to 500,000 prescriptions in a week in the U.S. and we see somewhere between 10 and 20,000 paying significant amount of money per week -- per month I'm sorry. And so, we don't know how much of that will be word-of-mouth, how do much that we going to find those people, how much of the doctors help those patients. And so that could be significant numbers of people. But it may not be, right, so that's why we're not putting a lot of weight on it, but we are going to launch a special introductory price for the first thousand people who sign-up during the month of January. And we kind of see how the program goes.
And so that's really our focus here as they try to address what we see is a pricing crisis for people paying cash for mealtime insulin. Hopefully we find good strategic partners to help patients, get better care, and they not rationing their insulin. And so that's part of our main focus is, we don't want the price points to stop patients from getting access to treatment. And I think that what's most important and we want to be part of that solution. So we’re very excited to have a solution with a direct purchase program where you can see all the middlemen do take up about over 50% of the cost at the end of the day when you add it all up.
And then it’s a very expensive process, right, if you're trying to hire sales force and a medical team and education and dinner events, I mean all that cost money. And so this will be a different program with a very different target and not one that you'll see our sales force from going to much more one that will be out there either through web sites and/or third party engagements we plan to do when we launch it.
_____________________________________________________________________________________________________________________________
If the transcripts got it right, Mike was saying "we are going to launch a special introductory price for the first thousand people who sign-up during the month of January." It is very unlikely Mike was referring January 2020. In all likelihood, he was probably referring to January 2019 and, guess what, we are in January 2019. If that is the case, seems like this program will be announced imminently, within one to two weeks, as there are only about four weeks left in the month of January.
Mike was also saying "So we’re very excited to have a solution with a direct purchase program where you can see all the middlemen do take up about over 50% of the cost at the end of the day when you add it all up.
" Did he say "So we’re very excited to have a solution with a direct purchase program"? Was he implying that the program is already there (just waiting to be announced?)
