Agree with flawed launch strategy with wrong pricing and exclusivity and significantly higher pricing for low volume purchases, but I feel they shifted their stance in a reasonable time after getting pushback and getting clearer data on duration for Frontalis. Daxi def showed and continues to show median duration of action of 5.5 months for Glabella so they were justified in pricing in the premium for Glabella at first, but when initial feedback for Frontalis duration came in less than anticipated (much of this due to injection technique rather than potency issue IMO), they had to make aggressive pricing cuts to entice injectors to bring it on and take the time to perfect their injection pattern. Mark Foley took over Daxi aesthetics from Dustin Sjuts, cut pricing, changed incentive bonus structure, and redirected the sales team toward Daxi and away from RHA which was the right thing to do to course correct.
I also fault his launch strategy for not being more methodical in addressing the frontalis injection pattern and they should have had a plan in place where KOLs that got access to Daxi in Sept 2022 should have performed various frontalis injection patterns with varying dilutions, and varying unit ratios to Botox (1 to 1, 1.5 to 1, 2 to 1, etc). 100 patients injected objectively by 10 KOLs and followed out 3 to 5 months would have given new injectors a 3 month lead on this learning curve. So I see this as a 3 to 6 month sales drag that should now start to correct. The reputational harm from the launch is hard to quantify, but if the product is truly superior, all will soon be forgotten as long as Revance stays humble and keeps on engaging with customers and pushing for the best outcomes at the best price.
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