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Post by barnstormer on Dec 11, 2019 9:41:22 GMT -5
This doesn't sound right. In this case if I were diabetic I would just go to Brazil every 3 months to get a scrip filled all expenses paid by Afrezza savings. This could start a whole new black market for Afrezza. Oh that makes sense.....Spend $2,500 to fly to Brazil every 3 months and buy Afrezza. A 90 day Direct buy is about $900..... You do the math. Better check you airlines and discounts. You must not fly much. |
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Post by mango on Dec 11, 2019 9:43:36 GMT -5
Just to be clear—Afrezza is priced affordably in Brazil? People will be able to afford it? Is that what I’m seeing?
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Post by matt on Dec 11, 2019 9:44:57 GMT -5
Does anyone have a guess if we are selling at “cost” to Brazil? I’m all for increasing volume and awareness world wide, but I hope we are not selling at below manufacturing cost. I am not sure the permitted factory price even covers cost. The factory price is the maximum that Biomm can charge retail pharmacies (before taxes) so Biomm must recover all of their costs out of that price including what they pay to MNKD for the product, shipping, warehousing in Brazil, sales and marketing, and so forth. Pure selling activities for a specialty pharmaceutical product are in the ballpark of 35% of sales in normal circumstances (that is roughly what Biomm would spend to promote the drug), so if MNKD is only receiving 65% of the factory price, net of international shipping cost, then there is not much room left to cover production costs.
Given that it has taken MNKD until this year to have a positive contribution margin on Afrezza, I can't see how the allowed price comes close to covering the fully burdened manufacturing cost. The allowed price might cover the pure incremental manufacturing cost if you assume that the excess bulk insulin inventory has no economic value and that the depreciation and other manufacturing costs are truly fixed with or without the Brazil volume. The cost to print Portuguese labels is minimal.
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Post by mnkdfann on Dec 11, 2019 9:50:28 GMT -5
Oh that makes sense.....Spend $2,500 to fly to Brazil every 3 months and buy Afrezza. A 90 day Direct buy is about $900..... You do the math. I can find round trip flights to Rio for $600. Plus why do it every 3 months when you can probably buy a year's supply per trip? For that matter will it be possible to order by mail? The FDA site says you can import 3 months of a legitimate drug at a time, but there are all sorts of restrictions. I'm not qualified to decipher it all. Someone else can do that. But my gut feeling is that bringing in a year's supply at a time could cause problems at Immigration / Customs. In which case you may get to keep nothing. And I'm sure bringing in large quantities of a white powder from Brazil will not raise any flags.  I'm sure there are already many pharmaceuticals on the market in Brazil at prices much lower than what they are priced at in the States. Is it currently a thing for U.S. citizens to travel to Brazil to fill cheap prescriptions? |
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Post by rfogel on Dec 11, 2019 10:09:55 GMT -5
I can find round trip flights to Rio for $600. Plus why do it every 3 months when you can probably buy a year's supply per trip? For that matter will it be possible to order by mail? The FDA site says you can import 3 months of a legitimate drug at a time, but there are all sorts of restrictions. I'm not qualified to decipher it all. Someone else can do that. But my gut feeling is that bringing in a year's supply at a time could cause problems at Immigration / Customs. In which case you may get to keep nothing. And I'm sure bringing in large quantities of a white powder from Brazil will not raise any flags. I'm sure there are already many pharmaceuticals on the market in Brazil at prices much lower than what they are priced at in the States. Is it currently a thing for U.S. citizens to travel to Brazil to fill cheap prescriptions? Yes, but who decides what a "90 day supply" is? A diabetic prescription can't specify since the amount used varies each day, so a doctor could write for a 100 boxes and it could still be argued that it's a 90 day supply. Also interesting: kutv.com/news/local/utah-insurer-plans-to-send-patients-to-mexico-for-cheaper-medicine I wonder if they'd be willing to pay for airline tickets as well. |
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Post by mango on Dec 11, 2019 10:14:46 GMT -5
I can find round trip flights to Rio for $600. Plus why do it every 3 months when you can probably buy a year's supply per trip? For that matter will it be possible to order by mail? The FDA site says you can import 3 months of a legitimate drug at a time, but there are all sorts of restrictions. I'm not qualified to decipher it all. Someone else can do that. But my gut feeling is that bringing in a year's supply at a time could cause problems at Immigration / Customs. In which case you may get to keep nothing. And I'm sure bringing in large quantities of a white powder from Brazil will not raise any flags. I'm sure there are already many pharmaceuticals on the market in Brazil at prices much lower than what they are priced at in the States. Is it currently a thing for U.S. citizens to travel to Brazil to fill cheap prescriptions? My man mytakeonit will take care of all your Afrezza powda needs...the cartel is good at this sort of thing, eh El Chapo? Cartel é especialista em contrabandear cargas preciosas, certo El Chapo? |
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Post by seanismorris on Dec 11, 2019 10:18:14 GMT -5
I didn’t think Afrezza could be sold for much profit in Brazil & India... Sounds like we need to be concerned about losing money with every script.
I’m more optimistic about Australia/New Zealand, but these international announcements are almost entirely PR.
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Post by ktim on Dec 11, 2019 10:30:45 GMT -5
There are several documents on that page, but I haven't found Afrezza referenced in them. Can you point to the one with Afrezza? |
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Post by brotherm1 on Dec 11, 2019 10:42:08 GMT -5
Hopefully Brazilians will at least enjoy it and spread the word to buy MNKD stock.
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Post by harryx1 on Dec 11, 2019 10:52:14 GMT -5
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Post by seanismorris on Dec 11, 2019 10:57:01 GMT -5
Hopefully Brazilians will at least enjoy it and spread the word to buy MNKD stock. You’d first need Brazilians to be aware that Afrezza exists. Who’s going to spend money on marketing to make them aware? Press Release “Upon satisfactory approval from these regulatory bodies, MannKind will manufacture and supply Afrezza to Biomm, and Biomm will be responsible for promoting and distributing Afrezza within Brazil.” The best we can hope for is internet ads. The question is, can Biomm be more creative with the message, not being under the FDA’s heel? |
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Post by awesomo on Dec 11, 2019 11:00:32 GMT -5
Hopefully Brazilians will at least enjoy it and spread the word to buy MNKD stock. The percentage of Brazilians that invest in U.S. equities is probably extremely small. |
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Post by rfogel on Dec 11, 2019 11:15:58 GMT -5
Hopefully Brazilians will at least enjoy it and spread the word to buy MNKD stock. You’d first need Brazilians to be aware that Afrezza exists. Who’s going to spend money on marketing to make them aware? Press Release “Upon satisfactory approval from these regulatory bodies, MannKind will manufacture and supply Afrezza to Biomm, and Biomm will be responsible for promoting and distributing Afrezza within Brazil.” The best we can hope for is internet ads. The question is, can Biomm be more creative with the message, not being under the FDA’s heel? Has it been revealed exactly how much afrezza Biomm bought for $700,000? How much of a profit margin will they be able to achieve? As I understand it, they are a small company. Will they be able to build the infrastructure necessary to sell and distribute afrezza? |
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Post by seanismorris on Dec 11, 2019 11:20:42 GMT -5
Their marketing efforts are already better than anything MannKind put together ; ) |
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Post by mannmade on Dec 11, 2019 11:20:42 GMT -5
I don’t think the object with Brazil is profit. In fact the lower the price as long as it is above break even on cost to produce the better imho as there is no way to make a reasonable profit and have it succeed. Higher price creates same problem as here, Afrezza becomes unavailable for too many who would otherwise use it.
The goal here is to sell as much as mnkd can. The increase in production will lower average unit cost and increase profits as a result.
And the more they sell in Brazil the more well known Afrezza will become in the rest of the world including here in the US.
GLTAL’s!!!!
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