Having said that, I was pleased to hear the company has made a lot of progress towards the launch of KRYSTEXXA. They already have the initial product labeled and ready. Marketing materials are waiting for approval from the FDA. One of the largest private payers has already agreed to include it as a reimbursable cost without knowing price. They also expect limited costs to develop the infrastructure needed for launch.
All in all, the company appears ready for a December launch which is probably the direction they should've taken all along. Going public with the desire to sell was never going to elicit the highest bids. The stock price has seen limited bounce back today. As usual, traders are overly focused on a buyout and quick money. SVNT has a FDA approved drug in high demand. Don't sell the stock short just because management didn't handle the buyout process well. The company has a lot more value then the current market cap around $820M. As I reported yesterday, one analysts expects peak revenue to exceed that market cap which is unheard of in the biotech sector.
- Commence shipments in Dec with announcement of price
- Available for prescription at time of shipment
- Initial launch - ACR November 7-10th - use package insert material while awaiting FDA approval of Marketing materials
- Initially concentrate infusion centers - 1,700+
- 60 person sales force to be ready and trained by Jan 2011
- Doesn't require a lot of infrastructure costs due to the limited targeted population
- Company refused to discuss cash needed for launch
- Filing EU application Jan 4th, 2011.... review process takes about a year
- one of the largest medical payers has already agreed to reimburse the cost without knowing the cost
- still focused on 170K patients or 3% of the gout population