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Post by yash on Nov 22, 2021 1:52:20 GMT -5
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Post by akemp3000 on Nov 22, 2021 7:45:28 GMT -5
Based on Cipla's stated goal of expecting to overtake GSK for lung indications, wondering if this is the company behind MC's recent hint that he wants one global distribution partner for Afrezza? With MC having global experience and now hindsight, you can bet he wouldn't make the same mistake like the Sanofi deal.
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Post by cedafuntennis on Nov 22, 2021 9:08:55 GMT -5
Isn't Cipla or rep in India already? If so, maybe we are reading too much into that.
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Post by akemp3000 on Nov 22, 2021 9:23:46 GMT -5
Cipla is big in India and headquartered in Mumbai but they're also a global company with plans to overtake GSK as the leader in lung indications. They're currently a distant second. Not reading anything into this, just wondering based on MC's recent comments. After all, speculation is the fuel for message boards  |
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Post by Clement on Nov 22, 2021 9:32:30 GMT -5
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Post by boca1girl on Nov 22, 2021 9:40:46 GMT -5
From another thread back in May, spikespiegel said: The Link for the India Trial, so we dont miss a update ctri.nic.in/Clinicaltrials/pmaindet2.php?trialid=45751&EncHid=&userName=CIPLA Last update in June, only T1’s included 18 - 65. Mike just said trial is ongoing on the last call. No real update. Cupola May be the world wide distribution partner for Afrezza, but is there a conflict for ex-US distribution of Tyvaso-DPI? |
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Post by Clement on Nov 22, 2021 9:59:29 GMT -5
The following is a little history from the latest 10Q (for 3rd quarter 2021):
"Cipla License and Distribution Agreement — In May 2018, the Company and Cipla Ltd. (“Cipla”) entered into an exclusive agreement for the marketing and distribution of Afrezza in India and the Company received a $2.2 million nonrefundable license fee. Under the terms of the agreement, Cipla will be responsible for obtaining regulatory approvals to distribute Afrezza in India and for all marketing and sales activities of Afrezza in India. The Company is responsible for supplying Afrezza to Cipla. The Company has the potential to receive an additional regulatory milestone payment, minimum purchase commitment revenue and royalties on Afrezza sales in India once cumulative gross sales have reached a specified threshold.
The nonrefundable licensing fee was recorded in deferred revenue and is being recognized in net revenue – collaborations over 15 years, representing the estimated period to satisfy the performance obligation. The additional milestone payments represent variable consideration for which the Company has not recognized any revenue because of the uncertainty of obtaining marketing approval. As of September 30, 2021, the deferred revenue balance was $1.7 million, of which $0.1 million is classified as current and $1.6 million is classified as long term in the condensed consolidated balance sheets."
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Post by Thundersnow on Nov 22, 2021 10:12:20 GMT -5
Based on Cipla's stated goal of expecting to overtake GSK for lung indications, wondering if this is the company behind MC's recent hint that he wants one global distribution partner for Afrezza? With MC having global experience and now hindsight, you can bet he wouldn't make the same mistake like the Sanofi deal. Well to be accurate Mike did not negotiate or sign the Sanofi deal. He came after the deal was terminated and transferred back to MNKD. MNKD is in a much stronger negotiating position for a Global Partner. I also feel a GP will not be signed until after the Pediatric Approval. |
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Post by akemp3000 on Nov 22, 2021 11:29:36 GMT -5
Based on Cipla's stated goal of expecting to overtake GSK for lung indications, wondering if this is the company behind MC's recent hint that he wants one global distribution partner for Afrezza? With MC having global experience and now hindsight, you can bet he wouldn't make the same mistake like the Sanofi deal. Well to be accurate Mike did not negotiate or sign the Sanofi deal. He came after the deal was terminated and transferred back to MNKD. MNKD is in a much stronger negotiating position for a Global Partner. I also feel a GP will not be signed until after the Pediatric Approval. I meant and should have said he wouldn't allow the company to make the same mistake. Good point about pending pediatric approval. |
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Post by prcgorman2 on Nov 23, 2021 19:38:21 GMT -5
And to be specific the “mistake” was the terms and conditions in the contract which gave Sanofi the opportunity to reneg on ~$750M in milestones, etc., just like they did to the tune of a similar amount to the shareholders of Genzyme including their CEO Chris Viehbacher, who had become CEO of Sanofi and was displaced shortly after signing the worldwide marketing agreement for Afrezza with Mannkind. Chris’ replacement, Oliver Brandicoot [sic] was the executive that lead of the failed Exubera inhaled RAA insulin program at Pfizer. Note to self, spend money on good contract lawyers so that you don’t lose money hiring lawyers after a breach of contract.
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Post by Deleted on Nov 24, 2021 1:13:46 GMT -5
And to be specific the “mistake” was the terms and conditions in the contract which gave Sanofi the opportunity to reneg on ~$750M in milestones, etc., just like they did to the tune of a similar amount to the shareholders of Genzyme including their CEO Chris Viehbacher, who had become CEO of Sanofi and was displaced shortly after signing the worldwide marketing agreement for Afrezza with Mannkind. Chris’ replacement, Oliver Brandicoot [sic] was the executive that lead of the failed Exubera inhaled RAA insulin program at Pfizer. Note to self, spend money on good contract lawyers so that you don’t lose money hiring lawyers after a breach of contract. It's not that easy. MNKD was negotiating from a position of weakness. They had no leverage with Sanofi and was stuck with the terms. Afrezza received a shitty label and the Trial was not designed for SUPERIORITY. Things would have been way different if Chris remained CEO. Sanofi would have spent the money to improve Afrezza and IMO eventually buyout the drug from MNKD. |
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Post by akemp3000 on Nov 24, 2021 7:37:36 GMT -5
And to be specific the “mistake” was the terms and conditions in the contract which gave Sanofi the opportunity to reneg on ~$750M in milestones, etc., just like they did to the tune of a similar amount to the shareholders of Genzyme including their CEO Chris Viehbacher, who had become CEO of Sanofi and was displaced shortly after signing the worldwide marketing agreement for Afrezza with Mannkind. Chris’ replacement, Oliver Brandicoot [sic] was the executive that lead of the failed Exubera inhaled RAA insulin program at Pfizer. Note to self, spend money on good contract lawyers so that you don’t lose money hiring lawyers after a breach of contract. It's not that easy. MNKD was negotiating from a position of weakness. They had no leverage with Sanofi and was stuck with the terms. Afrezza received a shitty label and the Trial was not designed for SUPERIORITY. Things would have been way different if Chris remained CEO. Sanofi would have spent the money to improve Afrezza and IMO eventually buyout the drug from MNKD. That line sums it up and IMO both posts are spot on. |
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Post by prcgorman2 on Nov 24, 2021 7:45:36 GMT -5
And to be specific the “mistake” was the terms and conditions in the contract which gave Sanofi the opportunity to reneg on ~$750M in milestones, etc., just like they did to the tune of a similar amount to the shareholders of Genzyme including their CEO Chris Viehbacher, who had become CEO of Sanofi and was displaced shortly after signing the worldwide marketing agreement for Afrezza with Mannkind. Chris’ replacement, Oliver Brandicoot [sic] was the executive that lead of the failed Exubera inhaled RAA insulin program at Pfizer. Note to self, spend money on good contract lawyers so that you don’t lose money hiring lawyers after a breach of contract. It's not that easy. MNKD was negotiating from a position of weakness. They had no leverage with Sanofi and was stuck with the terms. Afrezza received a shitty label and the Trial was not designed for SUPERIORITY. Things would have been way different if Chris remained CEO. Sanofi would have spent the money to improve Afrezza and IMO eventually buyout the drug from MNKD. I agree with “not that easy”. It’s my armchair CEO view which is admittedly imperfect. But I disagree with negotiating from a position of weakness. The deal they cut was for over $1B in milestones and then royalties on top of that. You don’t get an agreement like that when working from a position of weakness. Dr. Rothblatt did not enter into the TreT development out of charity, and neither did Sanofi. It is business and in contracts, each side feels they are getting value roughly equal or better than the other company. Yes, there can be overwhelming advantage on one side of the deal, but that clearly wasn’t the case or the deal wouldn’t have been worth so much money. Remember the deal was made with Dr. Al Mann still at the helm of his considerable investments and commanding respect for his vision and his proven abilities to capitalize on it. |
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Post by prcgorman2 on Nov 24, 2021 7:49:20 GMT -5
It's not that easy. MNKD was negotiating from a position of weakness. They had no leverage with Sanofi and was stuck with the terms. Afrezza received a shitty label and the Trial was not designed for SUPERIORITY. Things would have been way different if Chris remained CEO. Sanofi would have spent the money to improve Afrezza and IMO eventually buyout the drug from MNKD. That line sums it up and IMO both posts are spot on. Wouldn’t it be a lovely karmic event if Mannkind one day acquired Sanofi? |
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Post by akemp3000 on Nov 24, 2021 8:27:07 GMT -5
That line sums it up and IMO both posts are spot on. Wouldn’t it be a lovely karmic event if Mannkind one day acquired Sanofi? Gotta love that thought. The French company hated the idea that their CEO might actually reside in the U.S. (Boston), so they struggled to find a "true" Frenchman to lead the company. I've always hoped karma would pay them back one day. Mannkind blowing by them would be the ultimate payback. While this may be a farfetched dream, Mannkind certainly appears to be more forward thinking and aggressive. We can only hope. |
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