On Uniform pricing
PW has shown it does NOT work (at least implemented by OUR company) amd is NOT in shareholders best interest!
1. The reimbursement process has taken too long, too many restrictions and still a lot of countries not on board!
2. No other company I am aware is so stringent on pricing. Generally capitalist want to maximize revenue not adhere to a "fair pricing" principle (that doesn't work). Look at ITMN when Esbriet was approved they attempted to get yes a similar price but in a big (20-30%) price band. In general countries that could pay more or had few patients were higher priced.
3. The US market has generally supported a much higher price. Again Esbriet (since I'm well familiar with) had a price over 2x that of the highest initial European price and in some cases > 3x! Not only that but the launch was much more rapid (and most the current sales) are from the US!
On reimbursement
Yes it is very complex often dealing with government bodies and time consuming negotiations which furthers my point about (lack of) competent management. Who do they have do it someone with experience? Someone who understands the process? How about someone doing IR!
Its ridiculous what happened in Germany! ITMN started there and had minimal restrictions. The price is renegotiated at set times what does OUR company do? Wait 2 years to launch get extreme restrictions on number of patients and doses and then what will happen if they need to renegotiate according to German Law!
On Chess
I like to play chess. Clinuvel is an investment for me not a game of chess, when investing I seek to maximize returns. Maximizing Revenue/Net Income is one facet of OUR companies valuation and management has not done a good job here! Q over Q sales decline early in a drug launch is not a good sign (here we have the fallback of bad management to blame so there is hope for recovery and much more EU sales growth). Also there is an issue of future competition (whether through other products or while unlikely generics when Orphan Exclusivity expires) not to mention the time value of money so there should be a sense of urgency!
On Sharescene
Yes I am well aware of the board. It has some good posting/content and a LOT of noise.
Clinuvel is not my first biotech investment. PW would rank on the lower end of CEO's of Bio's I've owned. Yes he did get Scenesse approved to his credit. However management doesn't seem capable to run proper trials, negotiate reimbursement/treatment duration, hire capable people, prepare BEFORE hand for launch/REMS/reimbursement... I especially dislike his lack of transparency to shareholders in the ruse of competitive advantage! Other companies are much more transparent with much greater competition! And some astute Sharescene posters find things our company should disclose and doesn't!
