Post by jpg on Feb 13, 2016 17:37:05 GMT -5
I knew that Exubera preceded Afrezza and was dropped by Pfizer for lackluster sales. Their large inhaler and regular acting inhalable insulin didn’t cut it with Drs nor patients. It's no secret that the current competition was going to play on Exubera’s 'ghost' to keep the inhalable 'barrier alive' in the minds of MDs. Who wouldn't use that? Commercializing Afrezza was certainly NOT going to be a cakewalk. It would take minimum 3 years. Senior managers at both MannKind and Sanofi should have known as much. Period.
I knew that Afrezza had a black box warning but then so does Acetomenophen. Anyone whose seen a drug commercial on the TV has also seen the list of potential hazards including fatality. Look at warnings for other inhalers. Same issue/different drug. This was a barrier that would need to be crossed and it would require at least 3 years of effort. Period.
I knew that a solution to provide support to new users of Afrezza was critical and was not provided initially. This was apparent in June 2015 and at the first sign of trouble, specialized clinics should have been set up asap. If this oversight on action to be taken asap was not intentional then it speaks to incompetence by Sr. Management on both sides.
I knew pricing was too high and a barrier to insurance by June 2015. The price should have been amended immediately and again, if this oversight was not intentional then it speaks to incompetence by Sr. Management on both sides.
I've been dumbfounded by the lack of Sanofi's effort to use more publicity to 'get the word out' about Afrezza. TV ads should have started last July/August after the soft launch. If this oversight was not intentional then it speaks to incompetence by Sr. Management on both sides.
I know some have said they don't like the Ad campaign "Surprise - it's Insulin." Sanofi and MannKind agreed to it so-that's that. Both are responsible.
I know some have said MannKind lawsuits are Sanofi's fault. Actually fault belongs to BOTH companies. One CEO is gone; the other will soon follow. Shorts have taken advantage of weak Sr Management. You can't fault them entirely though lawbreakers should be dealt with severely. Try $ 25 billion dollar fines. That should do it.
When the SNY partnership was first announced, I figured they would need at a minimum 36 months to iron out all the kinks to secure Afrezza's commercial success in the US and then overseas. But, a decision to drop the partnership was made and in a timeframe that I as an investor (in BOTH companies) would never have agreed to. So now MannKind and Sanofi need to move on - AND - they had better do so successfully. Period.
There remains one important item which MannKind must analyze carefully to ensure Sanofi's efforts to market Afrezza were in fact steadfast. Once that analysis has been completed, there will be finite clarity on all of Sanofi's commercialization efforts in the US since last February. To that aim, I addressed the following to both companies last month.
I pointed out that the single most important aspect of the upcoming Sanofi-to-MannKind transition needed to include the hand over of every single Sanofi sales call report from every single Sanofi/contract sales rep across the USA that had been out in the field since February of 2015 visiting MDs about Afrezza. The reason I pointed this out was that during a transition from one sales team to another, one would expect that the outgoing Sanofi sales rep provide the 'low down' to the incoming MannKind sales representative so they can quickly pick up where the other left off. I think it will become apparent during review of these sales reports precisely how the sales plan was executed and with what resolve. The sales plan should also be turned over because it was part of the agreement to oversee successful sales which did not materialize. There is little sense in repeating a failed plan but reviewing it should provide clues on what NOT TO do moving forward.
MannKind met their obligations to produce the needed volume of Afrezza AND deliver it on time to Sanofi. In doing so, they earned the appropriate milestones. Sanofi was in charge of the sales aspect of this partnerhsip so sales reports must be handed over in the transition and action plans discussed to ensure next steps.
Hopefully both MannKind and Sanofi will rise to the occasion and provide a smooth transition including providing monies to MannKind to ensure it does not go into bankruptcy. I expect that from Sanofi. However if both companies continue to act unprofessionally during this critical time (i.e. Sanofi's WSJ article), then, I will have no choice but to join lawsuits against both companies and as a Lead Plaintiff because I will not stand idly by while incompetent Sr. Management rules my future investment in both companies. Period. End of Quote.