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Post by itellthefuture777 on Jan 14, 2019 16:50:24 GMT -5
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Post by liane on Jan 14, 2019 16:52:41 GMT -5
itellthefuture777 - It would be helpful if the title of your threads gave some hint of what the thread is about. Thx!
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Post by mnkdfann on Jan 14, 2019 16:55:10 GMT -5
I was GOING to say, it's a good thing Mannkind is a small enough player that it escapes scrutiny. But then I read the article more closely and noticed the line: "Insulin prices also spiked: Sanofi and Novo Nordisk each raised prices on branded insulins by roughly 5 percent, while MannKind Corp. hiked the price of its inhalable insulin Afrezza by 9 percent." So I wonder if Rep. Cummings will call Mannkind to testify?
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Post by goyocafe on Jan 14, 2019 16:58:37 GMT -5
More than way too funny. They actually called our little old Mannkind and Afrezza for a 9% price increase in 2018. If they only knew...
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Post by mnkdfann on Jan 14, 2019 16:59:02 GMT -5
Oh, here we are ... looks like Mannkind dodged that bullet: www.cnbc.com/2019/01/14/house-democrats-launch-drug-pricing-probe-on-a-dozen-companies.html"Chairman Elijah Cummings, D-Md., sent letters to AbbVie, Amgen, AstraZeneca, Celgene, Eli Lilly, Johnson & Johnson, Mallinckrodt, Novartis, Novo Nordisk, Pfizer, Sanofi and Teva Pharmaceuticals seeking detailed information and documents about the companies' pricing practices."
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Post by itellthefuture777 on Jan 14, 2019 17:05:02 GMT -5
I was GOING to say, it's a good thing Mannkind is a small enough player that it escapes scrutiny. But then I read the article more closely and noticed the line: "Insulin prices also spiked: Sanofi and Novo Nordisk each raised prices on branded insulins by roughly 5 percent, while MannKind Corp. hiked the price of its inhalable insulin Afrezza by 9 percent." So I wonder if Rep. Cummings will call Mannkind to testify? 1. Mannkind can say..our prices are higher because of the middle men..and lay it out 2. Mannkind can say..we have a superior insulin..less hypos..superior glycemic controls that experts say our insulin is halting progression 3. Mike can say..what he said to us in The call below.. 4. Cummings didn't like Martin Shkreli..but did he know that Matin targeted Mannkind?..Maybe that should be brought up..and ask Cummings..if he is now siding with Martin or..sees how Mannkind is actually keeping prices low by being innovative..hmmm. Our last call Mike said, The third topic here I want address is payers/patient access. We are continuing to see positive payer coverage as we start out 2019 as evidenced by our recent signing of the contract with Kaiser [ph] and ongoing discussions with other key payers. We currently have 50% of commercial lives with no prior authorization and approximately nine out of 10 commercial lives, commercially insured patients have coverage with Afrezza with or without prior authorization according to fingertip formulary. You will see and hear about a series of new programs aimed at making sure people who acquired mealtime insulin have access to Afrezza. Next week we are launching a two-in-one card that will enable commercial patients to fill their prescription in the retail pharmacy for as low as $15 despite any payer/competitor driven obstacles that often delay important dreamy [ph] choices as we believe patients should have open access for all unique products and diabetes. As opposed to restricting patient prescriber choice, which ultimately protect monopolies and drive up costs to the healthcare system? Additionally, we read about the horrible stories of consumers rationing insulin and we could see there are thousands of prescriptions a month where people were paying a significant amount of cash for their injectable rapid acting insulin. We’d be launching a direct purchase option for Afrezza that eliminates all the middlemen, so we can pass along the savings directly for these patients who are paying cash for the rapid acting injectable insulin, as we want to be part of the solution for the future of healthcare and healthy living
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Post by mannmade on Jan 14, 2019 17:08:50 GMT -5
Mnkd can also say they have not yet recouped the bullions spent on R&D to develop and bring to market as have all the others.
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Post by itellthefuture777 on Jan 14, 2019 17:09:43 GMT -5
Oh, here we are ... looks like Mannkind dodged that bullet: www.cnbc.com/2019/01/14/house-democrats-launch-drug-pricing-probe-on-a-dozen-companies.html"Chairman Elijah Cummings, D-Md., sent letters to AbbVie, Amgen, AstraZeneca, Celgene, Eli Lilly, Johnson & Johnson, Mallinckrodt, Novartis, Novo Nordisk, Pfizer, Sanofi and Teva Pharmaceuticals seeking detailed information and documents about the companies' pricing practices." We have the superior product...it's really the guys with those slow old insulins that must explain..why a wooden buggy cost so much..while Afrezza is a Ferrarri..and cost less even if they raised prices 9%..but the fact is..the UK issued an order to companies to buy up insulin to stockpile it..causing raw material prices to raise..thus prices raise...just like oil markets..supply demand..I am sure Mannkind will take them to school..
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Post by itellthefuture777 on Jan 14, 2019 17:57:11 GMT -5
itellthefuture777 - It would be helpful if the title of your threads gave some hint of what the thread is about. Thx! fixed!
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Post by mnholdem on Jan 14, 2019 18:11:31 GMT -5
Actually, it was Sanofi who raised the price of Afrezza significantly and (not so coincidentally) right before the Big 3 raised the price of their RAA insulin, which led to members of the US Legislature claiming that the drug companies colluded in this regard, which is against the law. Nothing came of the claims or the threats by members of Congress to begin an investigation. Wonder why?
I had many conversations with then-CEO's Haken and Pfeffer about how they could capture a bigger market segment by lowering the price of Afrezza after it was returned by Sanofi. At the time, I even suspected that maintaining the established pricing may have been part of the Settlement Agreement with Sanofi. As a shareholder, I was prepared to take this to court until my attorney laid out the potential costs involved.
I don't recall whether I emailed him, but I think we all know where the current CEO stands on lowering the price of Afrezza.
So many missed opportunities... which appear to be continuing in the MannKind saga.
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Post by itellthefuture777 on Jan 14, 2019 19:13:47 GMT -5
Actually, it was Sanofi who raised the price of Afrezza significantly and (not so coincidentally) right before the Big 3 raised the price of their RAA insulin, which led to members of the US Legislature claiming that the drug companies colluded in this regard, which is against the law. Nothing came of the claims or the threats by members of Congress to begin an investigation. Wonder why? I had many conversations with then-CEO's Haken and Pfeffer about how they could capture a bigger market segment by lowering the price of Afrezza after it was returned by Sanofi. At the time, I even suspected that maintaining the established pricing may have been part of the Settlement Agreement with Sanofi. As a shareholder, I was prepared to take this to court until my attorney laid out the potential costs involved. I don't recall whether I emailed him, but I think we all know where the current CEO stands on lowering the price of Afrezza. So many missed opportunities... which appear to be continuing in the MannKind saga. m.goodrx.com/insulins. Considering Afrezza uses more insulin..and is better than all these...I'd say the pricing is better than most.imo
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Post by sayhey24 on Jan 14, 2019 19:18:04 GMT -5
This sounds like a great opportunity for Mannkind for earned advertising and Mike to tell in front of Congress the FDA and Sanofi disaster stories. He can then explain its the PBMs raising afrezza pricing and Mannkind is planning to sell direct.
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Post by mnkdfann on Jan 14, 2019 19:27:40 GMT -5
As I noted in my second post in this thread, it ended up that Mannkind was NOT called to testify. So discussions about what it might say seem to be irrelevant. Unless it can invite itself, which may not be a wise thing to do.
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Post by itellthefuture777 on Jan 14, 2019 22:31:38 GMT -5
As I noted in my second post in this thread, it ended up that Mannkind was NOT called to testify. So discussions about what it might say seem to be irrelevant. Unless it can invite itself, which may not be a wise thing to do. It actually might be thee thing to do..You see Large pharma is saturated since 2014..peaked..and flat lined..Afrezza is Prandial but I recall Al saying in an article that 72% of type 2's would only need Afrezza..that there is cost savings in that you wouldn't need to do all the daily titrating..carb counting..that leading key opinion leaders say Afrezza halts progression..progression towards amputations..blindness..heart..hypos..insulin resistance..no hypos when used alone even when you eat nothing in a study..then show that cost savings potential and weight neutral..no needles..free inhaler due to less waste in delivery..then lay out the direct options..of getting Afrezza..and then say...today these other giants have 99% of the Insulin market..they more than we impact the system...but as we grow..they won't be the 99% of tomorrow..as we have better patient outcomes..and better pricing..even while we are only 1%..our cost is better than all the inferior insulins..imagine what we could do if buying and selling insulin in bulk..Boom! Drop the mic..walk out..ohhhhh! And..these hearings are public...So..that would cause many watching..I think to demand Afrezza from doctors..and a bidding war would result imo..ha!
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Post by seanismorris on Jan 15, 2019 0:44:22 GMT -5
I’d also wondered about pricing (of things) in general.
I was looking into snake bites, and came across “According to Boyer's model, a single vial of antivenom that would cost more than $14,000 in the United States would cost $100 to $200 in Mexico.”
Makes you wonder how the “system” got the way it is. And, how Afrezza will be priced outside the USA.
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