MCUJF - Even if Medicure gets a label addition (European data included), they will need a commercial plan. For the past 4-5 years, their commercial plan has been horrible. And any affiliation with IROKO Cardio, may prove to have little impact on commercial growth.
IROKO Cardio is a private company, so their revenues and sales are not public. Based upon distributor data out of Europe, they have lost more than 50% of their business in the past 3 years. It appears that the group managing the business out of Europe is shitting the bed and may have put the AGGRASTAT brand into a global death spiral.
Global sales of AGGRASTAT were once well over $200M per year. Most of which was in the US. Today, the US does $2M in annual sales, and globally, I would assume that sales are well below $50M annually.
Best in class product, with the worst in industry management.
A $5M investment in 2008, in a clinical trial with relevant endpoints, would have helped to prevent US market erosion.
Neither company was interested at the time. Now any investment in a clinical trial program is a waste. The Phase 2 trial that Medicure is currently sponsoring is a joke at best and will have zero impact on sales growth.
Still holding and hoping for a miracle, but as time passes, the opportunity here is waining.
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