RE:RE:Message to Shareholders, November 2022 "New entrant for Aggrastat allowed into the Market this month and completely off patent in Q1."
MPH has no knowledge that it was launched this month according to the conference call. It was only for one format. When competing products went generic it also went a long way to genericizing AGGRASTAT as MPH had to compete on price. MPH only has about US$10 million in annual US AGGRASTAT revenue currently so the market's size isn't going to move the needle for many companies. Even if a competitor took half the market that would only be US$5 million in annual revenue and they would have to do it at a discount to take market share from MPH. How much bottom line profit is really available for competition after any upfront investment and discount? MPH has also contracted with endusers. It is making itself as efficient as possible ahead of potential competitors. MPH is also a long and established brand and name with AGGRASTAT. MPH has the dominant market position which may make it hard for competitors to gain scale in this small market. MPH's CEO has been buying shares in the market ahead of generic competition.
"Zypitimag sales not growing all that fast to replace"
Sales of Zypitimag are $2.534 million for the first nine months of 2022 vs. only $952,000 for the first nine months of 2021. That is a very strong 166% growth. "So, we do expect a return to consistent revenue into Q4" conference call.
Other manufacturers have noted MPH's success and MPH plans to provide additional products on its platform:
"Overall, ZYPITAMAG sales through Marley Drug continues to demonstrate growth, lower returns and fees to wholesalers and reduced fees to pharmacy benefit managers. This is why we’ve received attention from other manufacturers who are interested in our approach and Medicure plans to provide through a fee-based approach other innovative brand medications that have a clear clinical advantage at a cash price through Marley Drug."
PNPO Deficiency:
"Our Phase 3 study to find the first FDA-approved therapy for patients with PNPO deficiency, which is a rare pediatric disease leading to seizures and is ultimately fatal if untreated, is planned to begin in Q1 of 2023."