Bioelectronics Corp (BIEL)

[srinsocal]

Trying to rewrite BIEL history, typical basher tactic

<<<<< when BOOTS Pharmacy booted ACCUCRAP off the shelves >>>>>

BIEL began ActiPatch sales in UK Boots stores in 2014. By the end of that year it was the #1 on-line selling back-pain management device sold by Boots in the UK. 2015 and 2016 were BIEL's largest revenue years. The problem was the costs to sell through Boots resulted in large losses each year.

Year .... Sales Revenue .... TGA exp

2014 ........ $1.289 mil ............ $2.618 mil
2015 ........ $2.339 mil ............ $3.128 mil
2016 ........ $2.089 mil ............ $2.658 mil
2017 ........ $1.763 mil ............ $2.358 mil

When ActiPatch was added to the NHS Drug Tariff in early 2018, meaning its cost would be covered by the NHS, BIEL felt that retail sales would dry up. They pulled ActiPatch from Boots to reduce costs.

The addition to the Drug Tariff made ActiPatch available for UK doctors to prescribe. However, there was another layer to the NHS bureaucracy that had control over what drugs and medical devices were used in each community. These community NHS groups, who had experienced decades of funding cuts, would not approve ActiPatch for use in their communities. They used the excuse that more extensive proof of efficacy via large clinical studies was needed before they would allow its use. Sound familiar?

So, Boots did not 'boot ActiPatch off the shelves'. It was a good selling product that they wanted to make more money with.