I cant' speak to the NHS issues and system - just not familiar enough with it to opine. I do think there are broader issues with acceptance on a number of fronts. Back to my previous pharma relative to weight loss (albeit in the US). The previous investment I mentioned was the first weight loss drug approved in the US since the removal of phen-phen from the marketplace. The company has a partnership for both manufacturing and distribution, with scheduled payments from the partner for approvals and shipments to and from nations outside the US. This partnership was viewed as not only critical to success, but a guarantee of payments and subsequent profits which absolutely couldn't fail to generate revenues to drive a resulting sustained increase in the PPS. It never happened. In the US, insurance companies were slow to approve coverage (despite the rampant obesity problems in the US and its implications for overall health). Sales worldwide, again despite large national populations and a global obesity concern, lagged. The company trumpeted additional benefits of the drug on glucose levels (for diabetics, another significant health issue). It didn't matter - the sales just weren't there. To this day the PPS languishes at nearly pre-FDA approval prices. This - from a company with a much stronger share structure.
Reading carefully, one can see the parallels with BIEL. Add to this the relative acceptance of drug treatments as opposed to non-traditional treatments (i.e., devices). To top it off - the share structure. Any success has to translate to value for shareholders, and that value is more difficult to obtain if the share structure makes it more difficult to maintain sustained positive movement. That's the case here - in spades, IMO.
Again - it doesn't mean I don't see possibilities (hence my investment), but it does mean that translation whatever success may occur faces some uphill challenges.
