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Post by centralcoastinvestor on Mar 28, 2016 10:13:37 GMT -5
For example... The letter asks for proof that Valeant is not violating the companies' merger agreement, such as details surrounding Valeant's investment in marketing for the drug, according to Bloomberg. "Valeant predatorily priced Addyi at $800 a month even though Sprout had established a price point of approximately $400 a month for the drug based on market research," the investor group said, according to Bloomberg. "As a result of this predatory pricing, insurance companies refused to cover the drug, which has led to the drug not being affordable for millions of women." That sure sounds familiar to our situation. |
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Post by agedhippie on Mar 28, 2016 11:53:33 GMT -5
For example... The letter asks for proof that Valeant is not violating the companies' merger agreement, such as details surrounding Valeant's investment in marketing for the drug, according to Bloomberg. "Valeant predatorily priced Addyi at $800 a month even though Sprout had established a price point of approximately $400 a month for the drug based on market research," the investor group said, according to Bloomberg. "As a result of this predatory pricing, insurance companies refused to cover the drug, which has led to the drug not being affordable for millions of women." Sprout got Valeant committed to hard numbers as part of the merger deal, Mannkind did not do the same with Sanofi in the partnership agreement. Also since Valeant bought Sprout the shareholders are (or became at the sale) Valeant shareholders so they can sue, that is not the case with Mannkind shareholders. It will be interesting to see if Valeant tells them to go and file a suit before they hand over any documents. Right now it's a fishing expedition. |
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Post by 2011mnkdguy on Mar 30, 2016 11:29:09 GMT -5
There are two documented disagreements that Matt has spoke about. 1) Mannkind objected to the price of Afrezza that Sanofi set. Matt has mentioned this and I assume they disagreed at the joint committee, secondly Matt had spoken of TV ads in the 4rth quarter of 2015.He seemed upset with the advertising, I can only assume they objected to the lack of advertising at the joint committee. We will soon find out. My take is Sanofi will pay a settlement. It is clear Sanofi had final say on ads and pricing even though the mnkd part of the Joint committee disagreed.
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Post by agedhippie on Mar 30, 2016 12:01:00 GMT -5
It's not clear if they disagreed or were just unhappy. Sadly the minutes of the JAC are not available because I would absolutely love to read those! Even allowing for the difference on the JAC Sanofi will still be in the clear if they can convince the panel that the FDA and insurance restrictions on Afrezza coupled with the limited physician uptake meant that DTC would simply build a demand that could not be filled. The agreement gave Sanofi the final decision so they would still be within the terms of the contract.
I also think Sanofi will pay something in the end but it will not be much.
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Post by bradleysbest on Mar 30, 2016 12:29:17 GMT -5
The arbitrator will get to read those documents unless a settlement is reached. Interesting stuff for sure & will reveal a lot...
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Post by mnkdacrapshoot on Mar 30, 2016 12:50:36 GMT -5
I have been on this board previously, years ago, and was generally bearish. I don't believe MNKD will see a penny from Sanofi due to the manner in which the agreements were structured. I am bullish on Afrezza, but concerned about MNKD's ability to continue operating due to cash issues. Next few weeks should prove to be pivotal. Good Luck.
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Post by centralcoastinvestor on Nov 9, 2016 18:04:48 GMT -5
I have always held out hope that there would be some kind of settlement. Today's conference call was very reassuring. We live for at least another year. Very nice.
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Post by peppy on Nov 9, 2016 18:08:55 GMT -5
weehaw.
I saw matt type so many times no settlement. He is WRONG.
Cover.
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Post by alethea on Nov 9, 2016 18:11:17 GMT -5
I have always held out hope that there would be some kind of settlement. Today's conference call was very reassuring. Will live for at least another year. Very nice. I'm thrilled to hear today that your faith was justified! As Tiny Tim said, "God bless us, everyone."About time we caught a break. Fantastic job Matt, Mike, Ray et. al. Thank you!! |
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Post by alethea on Nov 9, 2016 18:14:26 GMT -5
weehaw. I saw matt type so many times no settlement. He is WRONG. Cover. Yes he was wrong. Totally. And boy howdy am I happy he was. |
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Post by compound26 on Nov 9, 2016 18:18:35 GMT -5
weehaw. I saw matt type so many times no settlement. He is WRONG. Cover. great news! The settlement is about what I have expected. I had expected $50 million cash settlement + forgiveness of debt. Well the settlement comes a bit below my expectation, but was within the ball of my expectation. Glad that Matt P. delivered. Right on time! I think many people underestimated Matt's skills and resolution (in making Afrezza a success). Following was my communication with another member on this board about a month ago. "If there was any negotiation of settlement at all, that will probably end up with a forgiveness of debt + some payment of cash. I would imagine that cash would be around $50 million. As Mannkind would probably ask for $100+ million. Sanofi would probably offer $25 million and they will then end up agreeing with each other at $50 million (+ forgiveness of debt). " |
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Post by liane on Nov 9, 2016 18:41:50 GMT -5
In all fairness, I think matt speaks from many and varied years of experience, and in most circumstances, he might have been right. I think many have underestimated Matt and Mike and MNKD (the little engine that could). They have done a phenomenal job buying us much needed time without dilution. Kudos Matt and Mike, and the entire team.
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Post by peppy on Nov 9, 2016 19:09:29 GMT -5
I think he was a short helping us understand the wind down.
In all fairness he was correct in the short position, until now.
Sorry that is what I truly think.
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Post by gtay87 on Nov 9, 2016 20:42:00 GMT -5
weehaw. I saw matt type so many times no settlement. He is WRONG. Cover. great news! The settlement is about what I have expected. I had expected $50 million cash settlement + forgiveness of debt. Well the settlement comes a bit below my expectation, but was within the ball of my expectation. Glad that Matt P. delivered. Right on time! I think many people underestimated Matt's skills and resolution (in making Afrezza a success). Following was my communication with another member on this board about a month ago. "If there was any negotiation of settlement at all, that will probably end up with a forgiveness of debt + some payment of cash. I would imagine that cash would be around $50 million. As Mannkind would probably ask for $100+ million. Sanofi would probably offer $25 million and they will then end up agreeing with each other at $50 million (+ forgiveness of debt). " On the other hand, maybe SNY figured there wouldn't be much chance of collecting anything anyway and just wanted to sever all connections. |
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