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Post by matt on Sept 10, 2019 7:26:42 GMT -5
It would have been nice had he revealed the size of the shipment. Also, have they revealed the payment terms -- on delivery, 30,60, 90 days? Payment? It would normally be by Letter of Credit. This means cash on the barrelhead upon delivery in Brazil (through the banking system). Payment guaranteed by an LC is not the same as cash on the barrelhead. Terms can still be net 90 days with MNKD only able to present the documents to the guarantor bank on day 91. The benefit of an LC, other than eliminating the risk of getting stiffed on payment, is that the auditors will not reserve the sale due to payment risk the same way they would without an LC. Of course the bank makes a big difference; if the LC is issued by Citibank that is one thing but if it is issued by a small Brazilian bank then there is still credit risk. There are lots of ways to get a temperature controlled product to Brazil, and ocean freight is not necessarily the best way. Airlines charge "actual weight" if a shipment is very heavy while if the shipment is light and bulky the shipper pays "dimensional weight" which is a hypothetical weight based on volume. A good air freight forwarder will mix products on a single pallet so that boxes of Afrezza can ride on top of boxes of machine parts such that actual weight is equal to dimensional weight for the consolidated shipment. On the other end, the forwarder splits the pallet and sends the individual products to their respective destinations. Companies like Caterpillar ship a lot of heavy parts by air because that costs less than having a construction project sit idle, so there is plenty of capacity for consolidating light shipments depending on who else is shipping to Brazil regularly. Likewise, if an express carrier like FedEx is shipping less product into Brazil than they are shipping out the plane heading to Brazil will be half empty so they adjust the rates heading to Brazil to ensure the plane is filled to capacity. Often times air works out better than ocean although that is counterintuitive by just looking at the published rates. |
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Post by peppy on Sept 10, 2019 8:12:18 GMT -5
Re: Triptan Technosphere for acute migraine At time 13:05 in the webcast, MC said, ".... renewed interest in acute treatment. Our migraine will be progressing into tox studies very shortly and we feel very strongly about moving that forward as soon as possible." Mechanism of Action Sumatriptan binds with high affinity to human cloned 5-HT1B/1D receptors. presumably exerts its therapeutic effects in the treatment of migraine headache through agonist effects at the 5-HT1B/1D receptors on intracranial blood vessels and sensory nerves of the trigeminal system, which result in cranial vessel constriction and inhibition of pro-inflammatory neuropeptide release. www.accessdata.fda.gov/drugsatfda_docs/label/2013/020132s028,020626s025lbl.pdf |
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Post by porkini on Sept 10, 2019 9:23:00 GMT -5
Re: Triptan Technosphere for acute migraine At time 13:05 in the webcast, MC said, ".... renewed interest in acute treatment. Our migraine will be progressing into tox studies very shortly and we feel very strongly about moving that forward as soon as possible." Mechanism of Action Sumatriptan binds with high affinity to human cloned 5-HT1B/1D receptors. presumably exerts its therapeutic effects in the treatment of migraine headache through agonist effects at the 5-HT1B/1D receptors on intracranial blood vessels and sensory nerves of the trigeminal system, which result in cranial vessel constriction and inhibition of pro-inflammatory neuropeptide release. www.accessdata.fda.gov/drugsatfda_docs/label/2013/020132s028,020626s025lbl.pdf Here is a link that works properly, it is due to formatting on PB and due to punctuation in the link and pasting it as a link. If, instead of pasting, you click the link icon (Earth+docpage), give a simple description with no punctuation, and then paste the properly formatted link into the URL field, it has a much better chance of working. For example: So, Peppy's link is then: SimpleLinkName |
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Post by uvula on Sept 10, 2019 11:15:37 GMT -5
matt, doesn't the air freight forwarder do all this mixing and matching work to make money for the air freight forwarder, not to save money for the companies shipping stuff?
I suspect the real situation was mike sent out a company wide email saying "would anyone like a free trip to Brazil in exchange for taking a suitcase full of afrezza."
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Post by Clement on Sept 10, 2019 11:33:39 GMT -5
a refrigerated suitcase!!
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Post by uvula on Sept 10, 2019 11:44:50 GMT -5
a refrigerated suitcase!! Lance Armstrong has some experience with these. |
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Post by mytakeonit on Sept 10, 2019 12:02:39 GMT -5
It's good to know people in the shipping business ... so you can set up "special deliveries" at unpublished rates. Normally air freight rates are very costly, but if space is available at a good rate then rush shipments might be feasible. Problem is that many small shipments are hard to track and can be stolen enroute. A containerized shipment filled with one product is inspected at the pier then locked and tagged. No one can tamper with it without leaving evidence of tampering. We all know that Afrezza is a stable product with a long shelf life so an ocean voyage sounds good to me. Just make sure that the product sent to Brazil just came off the production line and it'll all be good.
But, that's mytakeonit
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Post by apidistra on Sept 10, 2019 12:11:31 GMT -5
I don't see any problem with payment or transport to Brazil if L/C expert is sufficiently experienced and fanatically detailed. Unpay discrepancies are legion, especially among merchants in third world countries and the heightened risk of refrigerated cargo to the tropics is ripe for problems with a young company that has no export expertise.
Unless shipments are made T/T up front, which puts all the risk on the buyer. I would much prefer this basis to start and then, after a year or so, gradually allowing some credit (L/C) administered by an expert with decades of international experience.
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Post by uvula on Sept 10, 2019 12:16:50 GMT -5
"We all know that Afrezza is a stable product with a long shelf life."
We know but the FDA doesn't.
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Post by prcgorman2 on Sept 10, 2019 12:17:56 GMT -5
Afrezza packaging is pretty bulky. It's reasonable to assume shipment to Brazil was sufficient for some amount of stocking and samples, and was refrigerated. Biomm will be at least marketing Afrezza as cash-and-carry, and for the affluent Brazilians who want and can afford Afrezza, they're not going to want interruptions in supply. I'm guessing somewhere between $500K and $2M worth (U.S. retail value).
Glad to read about focus on migraine medication. I think fast relief from migraine headaches is going to be valuable. In fact, it kind of makes me wonder about inhalable aspirin, ibuprofen, and acetaminophen.
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Post by mytakeonit on Sept 10, 2019 12:20:12 GMT -5
All shipments will be insured. Even if the container falls off the vessel ... it won't be a problem. Mannkind only has to get the container to the dock, then the shipper takes responsibility until it's on the dock in Brazil. The whole scenario is pretty bland and only seems exciting if you watch too many spy movies.
But, that's mytakeonit
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Post by mango on Sept 10, 2019 12:21:04 GMT -5
There's a lot of concerns on the safety of Afrezza. I think, we've kind of addressed that in our development program, and Pfizer just recently published you know 25,000-patient data on Exubera showing you there's no increased risk to be concerned about lung cancer. In fact mortality was lower on people in Exubera than standard of care. So we feel good about the safety profile and that question continues to diminish as we go forward over time.
Yep. Nice job highlighting that Mike.
We have the safest insulin on planet Earth.
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Post by mytakeonit on Sept 10, 2019 12:24:05 GMT -5
I love when mango gets excited and "likes" his own post. Ha!
But, that's mytakeonit
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Post by apidistra on Sept 10, 2019 12:33:18 GMT -5
No, an international shipment can be unpaid very easily, or if not unpaid, then disputed. Discrepancies are often alleged, product stays on board or in the warehouse, and God knows what happens to it. Insurance may be claimed and may or may not be paid. Not simple at all. A single large shipment that goes wrong can destroy a small company - I've seen it happen.
The earliest example I recall was a small factory based overseas shipping craft goods to a department store in Europe. Payment by L/C. Huge order, six months of factory capacity booked, no money down. Product shipped, department store encountered tough times, claimed discrepancies, refused to take product. Product stuck in Switzerland, incurring demurrage charges, factory owner out on his luck trying to chase things down from 10,000 miles away.
Try overcoming that.
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Post by mytakeonit on Sept 10, 2019 12:42:02 GMT -5
Very easy. Just use reputable U.S. insurers and shippers. Mannkind is definitely not a small company as the above describes. I never lost any sleep over any shipments. AND, being in Hawaii ... ALL of my shipments were over water. Took 3 days for Matson to bring my shipments in from California. 2500 miles.
But, that's mytakeonit
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