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Post by Deleted on Jan 5, 2016 17:01:25 GMT -5
He's reading a prepared statement. Which he messed up on cause he lost track of what he was reading |
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Post by scottiemac on Jan 5, 2016 17:04:13 GMT -5
I agree. Why did SNY price this above the competition, and hence not get Tier 2 insurance coverage, makes me think we got royal f*kd Most new drugs do not get Tier 2 coverage right out of the chute; takes a year or more to do that. Pricing is another matter. |
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Post by factspls88 on Jan 5, 2016 17:04:29 GMT -5
They're going to need some big bucks to deal with the label issues and be able to claim superiority. Given that Al claims he does not care about money, let's "hope" he is prepared to shift some of those dollars earmarked for his foundation to the Mannkind Rescue Fund. Righting this ship is going to be no mean feat.
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Post by biffn on Jan 5, 2016 17:05:36 GMT -5
Price holding up AH.
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Post by bioexec25 on Jan 5, 2016 17:17:34 GMT -5
I'm hanging on for a bit but far be it for me to recommend anything to others based on this apparent disaster and their own situation. We indeed may be screwed, but for me and my experience I'm holding out for a deal. This is a good product albeit hated by competition, Sanofi included in that remark. Even a discounted sale of Afrezza or a TS port is not great but it is not $.75 not by a long shot.
Let's also don't rule out the lawsuit instrument. My view is not against Mnkd or Sny but against the entire agreement. This was a case study in inept management for more reasons than can be enumerated here. But hopefully it doesn't come to that and this disruption leads to pairing Mnkd with the appropriate partner or wholesale acquistion.
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Post by factspls88 on Jan 5, 2016 17:23:45 GMT -5
I was happy (for lack of a better word) to hear that they had done some independent research to confirm their belief that SNY's pricing was too high and that marketing was inadequate. while hindsight s 20/20, it seems pretty clear to me now that either Sanofi sucks at what they do or that they were setting up Afrezza to fail. I suspect it was a lot of both. Mannkind's plans going forward need to be clearly defined and supported wth a lock tight rationale. There can be no more fingers crossed if they expect to get any partner or investor interest. Like others, I gave Sanofi the benefit of the doubt based on their knowledge of and track record in the industry. Clearly that was not smart. I hope that Mannkind will redeem itself. And my apologies to the person I accused of spreading FUD the other day. I was clearly out of line.
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Post by mnholdem on Jan 5, 2016 17:55:28 GMT -5
I'm hanging on for a bit but far be it for me to recommend anything to others based on this apparent disaster and their own situation. We indeed may be screwed, but for me and my experience I'm holding out for a deal. This is a good product albeit hated by competition, Sanofi included in that remark. Even a discounted sale of Afrezza or a TS port is not great but it is not $.75 not by a long shot. Let's also don't rule out the lawsuit instrument. My view is not against Mnkd or Sny but against the entire agreement. This was a case study in inept management for more reasons than can be enumerated here. But hopefully it doesn't come to that and this disruption leads to pairing Mnkd with the appropriate partner or wholesale acquistion. It seemed from the beginning to be a weak effort on Sanofi's part, leading me to think that Sanofi immediately recognized Afrezza as a conflict of interest. Was it the change of leadership at Sanofi that scuttled the effort?
Hopefully, MannKind will manage to secure a partner with ZERO conflicts of interest. A company that has global marketing power and wants to make a LOT of money. After what happened with Sanofi, I would even consider a BP that has no current diabetes interest. After all, Afrezza has the potential to shake up the entire diabetes treatment spectrum, not just prandial insulin.
However, if a diabetes player is desired, Duane may consider approaching Japan's largest diabetes player Takeda. Japan is extremely needle-phobic and has a global presence including the U.S. Incidentally, it has been confirmed (I'll try to find the link again) that Christophe Weber, Takeda's CEO, was Sanofi's first choice for CEO and he turned them down before they hired Olivier. Takeda has recently been hiring Sanofi executives, too. I think they'd at least talk about distribution rights for Afrezza.
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Post by slugworth008 on Jan 5, 2016 19:55:31 GMT -5
I'm no fan of Matt but I think he did pretty well there. They are scrambling to recover after they were notified yesterday. I wouldn't expect him to lay out their plans for the next 10 years with one day to prepare. My takeaways: 1) They aren't giving up. That's important to me and to patients I'm sure. He made it clear they intended to correct mistakes (in a jab at Sanofi) and make it a success. That's the first time I've heard Matt express any determination on a call in a LONG time. 2) They aren't shutting the doors tomorrow. They have cash (not a lot, but enough) to keep things going for a few months until they make other arrangements. Also keeping the milestone payments was also good to hear. In all, I'm taking it as an attempt to calm the storm with assurances that they aren't packing it up and throwing in the towel. I think that's what needed to be said. I expect we'll hear more next week. CEO needs to get involved here though. That's crucial. THis is the first time I've heard Matt speak - He sounds like Rob Lowe (slight lisp and all) - I couldn't tell if he was pissed or not - but he did sound resolved and determined. I hope DD speaks more like Teddy Roosevelt. All in all I'm loading up - screw it. I'm either gonna be richer than hell or broker than hell. Damn the torpedoes!!! |
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Post by slugworth008 on Jan 5, 2016 19:56:26 GMT -5
I'm hanging on for a bit but far be it for me to recommend anything to others based on this apparent disaster and their own situation. We indeed may be screwed, but for me and my experience I'm holding out for a deal. This is a good product albeit hated by competition, Sanofi included in that remark. Even a discounted sale of Afrezza or a TS port is not great but it is not $.75 not by a long shot. Let's also don't rule out the lawsuit instrument. My view is not against Mnkd or Sny but against the entire agreement. This was a case study in inept management for more reasons than can be enumerated here. But hopefully it doesn't come to that and this disruption leads to pairing Mnkd with the appropriate partner or wholesale acquistion. And MNKD paid Greenhill how much for this agreement??? That's who needs to be sued. LOL |
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