So what: In early March, Jay Olson of Goldman Sachs downgraded MannKind to sell from neutral and set a $3 price target on the stock, or roughly 50% below where the stock was trading when Olson issued his commentary.
According to Olson, recent discounting in the hepatitis C market is likely to carry over into the diabetes market and result in estimated gross-to-net discounts of 40%, which is higher than the 20% Goldman Sachs had been modeling for MannKind's inhaled diabetes drug Afrezza. Additionally, Olson noted that the third-quarter 2014 launch of Jardiance and the fourth-quarter 2014 launch of Trulicity -- both diabetes products -- tracked about 75% below Goldman's sales launch expectations, and that Afrezza's launch is also tracking below projections.
.....does this make sense to ANYBODY?????.....
According to Olson, recent discounting in the hepatitis C market is likely to carry over into the diabetes market and result in estimated gross-to-net discounts of 40%, which is higher than the 20% Goldman Sachs had been modeling for MannKind's inhaled diabetes drug Afrezza. Additionally, Olson noted that the third-quarter 2014 launch of Jardiance and the fourth-quarter 2014 launch of Trulicity -- both diabetes products -- tracked about 75% below Goldman's sales launch expectations, and that Afrezza's launch is also tracking below projections.
.....does this make sense to ANYBODY?????.....
Goldman Sachs--hope they are not right!
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