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Post by kc on Jan 9, 2017 13:28:14 GMT -5
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Post by kc on Jan 9, 2017 14:15:57 GMT -5
A couple of more stories on the increasing cost of Insulin. MannKind needs to attack hard the pricing model. No point in having a State of the art facility and product if you can't every sell the product. Seems that making sales at Cost is better than stockpiling insulin and laying off employees.
Need to change the Insulin Market with pricing. Stick it to the big Pharma Cartel.
www.usatoday.com/story/news/politics/2016/12/24/soaring-insulin-prices-prompt-insurance-shift/95780148/
www.latimes.com/business/lazarus/la-fi-lazarus-insulin-prices-20161220-story.html
another article two days later. www.latimes.com/opinion/readersreact/la-ol-le-insulin-prices-20161222-story.html
www.foxnews.com/health/2017/01/05/rising-cost-diabetes-care-concerns-patients-and-doctors.html
Insurers scale back insulin coverage amid price hikes
www.beckershospitalreview.com/supply-chain/insurers-scale-back-coverage-amid-insulin-price-hikes.html
Sugar shock: Insulin costs tripled in 10 years knowridge.com/2016/12/sugar-shock-insulin-costs-tripled-in-10-years/
People with diabetes who rely on insulin have seen the cost of that drug triple in just a decade — even as doctors have prescribed higher doses to drive down the patients’ blood sugar levels.
The rise in insulin costs was so large that, since 2010, the per-person spending on insulin has been higher than the per-person spending on all other diabetes drugs combined. Meanwhile, the cost of other diabetes drugs has stayed about the same or even gone down.
Published in the Journal of the American Medical Association, the findings estimate in constant dollars what patients and their insurance plans paid from 2002 to 2013 for all antihyperglycemics, or medicines that reduce blood sugar levels.
Study authors say the rise in insulin costs compared with other therapies means it’s time to look again at the effect, and the cost-effectiveness, of non-insulin therapies.
They also note that the price of insulin is not likely to drop because of competition from generic forms, because of the way it is regulated.
The team, including researchers from the University of Melbourne in Australia and the University of Michigan, used data from the federal Medical Expenditure Panel Survey, which asks patients and insurers about care and costs.
“In the United States, the more than threefold increase in the cost of insulin over the past decade is alarming. It is a burden to both patients and payers and may deny some people access to a lifesaving therapy,” says William Herman, M.D., MPH, a co-author and longtime U-M diabetes care researcher.
“Although the newer, more expensive insulin analogs appear to have incremental benefits compared with older, less expensive insulin preparations, their premium price requires us to ask whether they are really necessary, and if so, for whom?”
Herman, a professor of internal medicine at the Medical School and of epidemiology at the School of Public Health, is a member of the U-M Institute for Healthcare Policy and Innovation.
“What our study shows is how quickly things can change and why there is a need to focus on the costs as well as the benefits when deciding treatment options for people with diabetes,” says Philip Clarke, Ph.D., the study’s senior author.
Rising prices and doses
Insulin injections keep people with Type 1 diabetes alive. These patients take multiple daily injections, often starting in childhood.
For adults with advanced Type 2 diabetes, doctors prescribe insulin to control blood sugar and stave off devastating damage throughout the body — usually after diet and exercise, and other medications, have failed to reduce blood sugar levels enough.
www.mndaily.com/article/2016/12/rising-insulin-costs-worry-students-faculty Nearly a hundred years after its discovery, the cost of insulin — a life-saving drug for diabetics — has continued to rise, leaving many daily users of the drug weary.
In November, the American Diabetes Association called upon lawmakers to investigate the medication’s price increase, and to ensure the drug remains accessible, citing a 48 percent increase in the annual cost of diabetes, gestational diabetes and prediabetes over the course of five years in the U.S. The yearly cost in 2012 alone was $322 billion
www.nbcnews.com/business/consumer/insulin-new-epipen-families-facing-sticker-shock-over-400-percent-n667536
insulin-new-epipen-families-facing-sticker-shock-over-400-percent
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Post by sluggobear on Jan 9, 2017 17:43:53 GMT -5
A couple of more stories on the increasing cost of Insulin. MannKind needs to attack hard the pricing model. No point in having a State of the art facility and product if you can't every sell the product. Seems that making sales at Cost is better than stockpiling insulin and laying off employees.
Need to change the Insulin Market with pricing. Stick it to the big Pharma Cartel.
www.usatoday.com/story/news/politics/2016/12/24/soaring-insulin-prices-prompt-insurance-shift/95780148/
www.latimes.com/business/lazarus/la-fi-lazarus-insulin-prices-20161220-story.html
another article two days later. www.latimes.com/opinion/readersreact/la-ol-le-insulin-prices-20161222-story.html
www.foxnews.com/health/2017/01/05/rising-cost-diabetes-care-concerns-patients-and-doctors.html
Insurers scale back insulin coverage amid price hikes
www.beckershospitalreview.com/supply-chain/insurers-scale-back-coverage-amid-insulin-price-hikes.html
Sugar shock: Insulin costs tripled in 10 years knowridge.com/2016/12/sugar-shock-insulin-costs-tripled-in-10-years/
People with diabetes who rely on insulin have seen the cost of that drug triple in just a decade — even as doctors have prescribed higher doses to drive down the patients’ blood sugar levels.
The rise in insulin costs was so large that, since 2010, the per-person spending on insulin has been higher than the per-person spending on all other diabetes drugs combined. Meanwhile, the cost of other diabetes drugs has stayed about the same or even gone down.
Published in the Journal of the American Medical Association, the findings estimate in constant dollars what patients and their insurance plans paid from 2002 to 2013 for all antihyperglycemics, or medicines that reduce blood sugar levels.
Study authors say the rise in insulin costs compared with other therapies means it’s time to look again at the effect, and the cost-effectiveness, of non-insulin therapies.
They also note that the price of insulin is not likely to drop because of competition from generic forms, because of the way it is regulated.
The team, including researchers from the University of Melbourne in Australia and the University of Michigan, used data from the federal Medical Expenditure Panel Survey, which asks patients and insurers about care and costs.
“In the United States, the more than threefold increase in the cost of insulin over the past decade is alarming. It is a burden to both patients and payers and may deny some people access to a lifesaving therapy,” says William Herman, M.D., MPH, a co-author and longtime U-M diabetes care researcher.
“Although the newer, more expensive insulin analogs appear to have incremental benefits compared with older, less expensive insulin preparations, their premium price requires us to ask whether they are really necessary, and if so, for whom?”
Herman, a professor of internal medicine at the Medical School and of epidemiology at the School of Public Health, is a member of the U-M Institute for Healthcare Policy and Innovation.
“What our study shows is how quickly things can change and why there is a need to focus on the costs as well as the benefits when deciding treatment options for people with diabetes,” says Philip Clarke, Ph.D., the study’s senior author.
Rising prices and doses
Insulin injections keep people with Type 1 diabetes alive. These patients take multiple daily injections, often starting in childhood.
For adults with advanced Type 2 diabetes, doctors prescribe insulin to control blood sugar and stave off devastating damage throughout the body — usually after diet and exercise, and other medications, have failed to reduce blood sugar levels enough.
www.mndaily.com/article/2016/12/rising-insulin-costs-worry-students-faculty Nearly a hundred years after its discovery, the cost of insulin — a life-saving drug for diabetics — has continued to rise, leaving many daily users of the drug weary.
In November, the American Diabetes Association called upon lawmakers to investigate the medication’s price increase, and to ensure the drug remains accessible, citing a 48 percent increase in the annual cost of diabetes, gestational diabetes and prediabetes over the course of five years in the U.S. The yearly cost in 2012 alone was $322 billion
www.nbcnews.com/business/consumer/insulin-new-epipen-families-facing-sticker-shock-over-400-percent-n667536
insulin-new-epipen-families-facing-sticker-shock-over-400-percent
Clearly Mannkind knows this about insulin pricing. I've been kicking a dead horse (which I'm starting to think it's this company). But I really don't understand what they think they have in their back pocket, there's nothing left. It doesn't look like anyone is going to partner with them for Epihale. The dead horse I keep kicking: that they should drop the price significantly below any other prandial insulin on the market and blanket the newspapers with announcements about taking on the ridiculous rise in insulin prices. Yes it needs to be done in a way that does not look desperate. But somebody at Mannkind has to get creative at this point. None of us wants to lose our investments in what we thought was a very significant advancement in the treatment of diabetes.
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Post by sportsrancho on Jan 9, 2017 18:27:05 GMT -5
It would be great if Matt had a board of advisers. (shareholders) You guys should be on it:-)
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Post by otherottawaguy on Jan 9, 2017 22:35:38 GMT -5
I was having (and have had) this discussion about pricing as follows:
I agree. Drop the Price to $2600 annually, no discounts, no BS. This was about the cost of the other treatment regiments prior to the FDA approval and was what I thought was the price point intended by Dr Mann.
Figured that $120M is required to run the show at Mannkind or about $10M per month. Since there is no share with partners any more, figured that $500 would go to the seller, $500 to COGS, giving a net of $1500 annually to MNKD. (This is based upon 1 X 90 unit box per month which is probably about 2/3 of what is really required to be effective)
Need 80,000 annual subscribers to break even under the above scenario. (120M / 1500)
If you consider at the 90 day (13 week) renewal period for each script, that means the we need 80000/13 = 6153 weekly TRX. Current TRX is approximately 5% of what is required
United States TD1 population is approx 3M which equates to 231,000 weekly scripts (3M / 13 wks) for the entire market.
As to your suggestion, we would need to capture 2.36% of the US TD1 Market to break even.
At half of what the other clowns are charging, do you not think this is possible within a very short time-frame, especially if the insurers are brought on board, and they push the idea to their clients and paid-for docs?
OOG
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Post by agedhippie on Jan 10, 2017 8:27:19 GMT -5
I was having (and have had) this discussion about pricing as follows: I agree. Drop the Price to $2600 annually, no discounts, no BS. This was about the cost of the other treatment regiments prior to the FDA approval and was what I thought was the price point intended by Dr Mann. Figured that $120M is required to run the show at Mannkind or about $10M per month. Since there is no share with partners any more, figured that $500 would go to the seller, $500 to COGS, giving a net of $1500 annually to MNKD. (This is based upon 1 X 90 unit box per month which is probably about 2/3 of what is really required to be effective) Need 80,000 annual subscribers to break even under the above scenario. (120M / 1500) If you consider at the 90 day (13 week) renewal period for each script, that means the we need 80000/13 = 6153 weekly TRX. Current TRX is approximately 5% of what is required United States TD1 population is approx 3M which equates to 231,000 weekly scripts (3M / 13 wks) for the entire market. As to your suggestion, we would need to capture 2.36% of the US TD1 Market to break even. At half of what the other clowns are charging, do you not think this is possible within a very short time-frame, especially if the insurers are brought on board, and they push the idea to their clients and paid-for docs? OOG Thered are going to be some issues with that approach. I have paid $500 (4 x $125) with several insurers so that is the point at which it is worth me ignoring my insurer and buying direct. I cannot say for certain but given that I have used a few PBM/insurers and they have always been around that price I would go with it. The high deductible plans are a different issue and I am not sure what the split between high deductible and other plans is. I suspect that the proportion of Type 1s on high deductible plans is low because insulin aside diabetes creates a lot of other medical costs.
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Post by peppy on Jan 10, 2017 9:09:03 GMT -5
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Post by sportsrancho on Jan 10, 2017 9:32:58 GMT -5
I'm leaning in this direction. I think more than the price or label, it's awareness to the masses that will turn this around.
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Post by kc on Jan 10, 2017 9:55:17 GMT -5
Peppy, I just know that we need to get some traction in some direction. We can't blow through Our cash and be in the situation six months down the road facing bankruptcy. I'm sure that Matt and the board have a plan and hopefully it will be revealed as early as Thursday and if not over the next two quarters. But sitting here without any information causes us all to worry and speculate as to how to fix the problem before the problem forces the company To take drastic action. You can't really sell and market a product like Afrezza without a marketing and advertising campaign. But it's a chicken and egg situation what comes first?
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Post by mnholdem on Jan 10, 2017 10:37:23 GMT -5
I imagine that MannKind's CEO will use his allotted time to basically go over the information that can be found in his summary of the 3Q16 earnings call. During that call, Matt did state, "I will provide further updates including revenue guidance for 2017 during our Q4 earnings call."
I wouldn't expect anything new to be revealed on Thursday, although many might be hearing the details about MannKind's plans for 2017 for the first time, so they may think it's new information.
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Post by tw12 on Jan 10, 2017 11:12:28 GMT -5
Yes, Sports et alia, let's talk directly, creatively and extensively to the masses. We have an inspired and unique product. Let's get the word out now: "Afrezza, the inspired insulin!"
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Post by kc on Jan 30, 2017 15:28:59 GMT -5
an article in today's New York times.
Drug Makers Accused of Fixing Prices on Insulin
www.nytimes.com/2017/01/30/health/drugmakers-lawsuit-insulin-drugs.html
A lawsuit filed Monday accused three makers of insulin of conspiring to drive up the prices of their lifesaving drugs, harming patients who were being asked to pay for a growing share of their drug bills.
The price of insulin has skyrocketed in recent years, with the three manufacturers — Sanofi, Novo Nordisk and Eli Lilly — raising the list prices of their products in near lock step, prompting outcry from patient groups and doctors who have pointed out that the rising prices appear to have little to do with increased production costs.
I wish that MannKind had the guts to really price Afrezza at 50% of the market price to get some volume sales. Or just do that for the Medicare, Medicaid, Tri-Care markets. We need to get Afrezza known by the Diabetic community. Reading the article its heartbreaking what diabetics have to deal with to get life saving insulin at a fair or reasonable price.
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Post by dreamboatcruise on Jan 30, 2017 15:49:41 GMT -5
Ooops... never mind. Just noticed I replied to a post from weeks ago rather current. Should be a delete option here.
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Post by kc on Jan 30, 2017 16:23:42 GMT -5
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Post by afrezzamiracle on Jan 30, 2017 17:05:34 GMT -5
Post of the year KC! This is WAR and we are out of options. Price the drug low and take the whole damn market. We have the best insulin drug ever created--PERIOD. It is time for drastic measures, and it is time to dominate! No more of this namby pamby, half assed marketing effort that is getting us literally nowhere. Your suggestion is how to win this war, and win it quickly. Twice the product at half the price.
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