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Wednesday, October 24, 2018 3:41:48 PM
I would opine that FDA OTC clearance delay could delay a general analgesic deal, but not foot or knee deals. For example, assume the Dr. Scholl's negotiations were real, as I believe they were? Or are. Only 3 reasons for delay; money, fear or stubborn people.
Money...the parties couldn't agree on term, price, branding name/packaging/advertising, manufacturing or supply-chain changes. Possible, but would involve stubborn people...
Fear...Scholl's/Bayer was/is reluctant to proceed with a deal until full FDA clearance and/or SEC resolution...highly doubtful. Retailers/Branders don't care about SEC issues, nor, really, does anyone else. If it was FDA clearance, I don't buy it...Scholl's/Bayer is incredibly well-managed...if they could do a deal to tie up ActiPatch for the foot and knee, and therefor be first to market in the USA, and therefore poised to ramp up for general or back clearance, they are smart enough to pay a premium to get that huge edge on every other player in the pain space and that's worth a few hundred million in sales....
Stubborn people...could be on either side...was/is there a sticky issue? If so, it may need someone to step in and tell them both to stop the games and make a deal. Tic toc...as long as neither side makes a deal, they both lose to competitors who are doing nothing and winning as a result of that and ActiPatch remains stupidly dormant, patented, FDA cleared, ready to roll-out, but dormant....arghhh. Checkmate by stupid people harming themselves and their shareholders. Only fools don't change their minds.
That's why Keith Nalepka may be the key; he's a sales guy. Was/is Keith managing the Scholl's talks and negotiations? Or was/is it Andrew Whelan? Whelan is definitely not a S&M guy, far, far from it. Didn't BIEL also have a lady involved in overseas sales? Was/is she handling the Scholl's file because Scholl's is Bayer...Germany? Doubt it because there is a Bayer U.S. in the middle. I would love to know the details here. If it's a stubborn issue, it could be solved in 5 minutes!
I will be very picced if stupidity is blocking a deal here...ActiPatch and Dr. Scholl's is a match absolutely made in retail heaven - again, only fools don't change their minds....
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