Don't worry, our relationships are so good with the payers that we'll find a way to negotiate ourselves out of this......oooops, maybe not. Acthar vial price will drop to $5-8K. BioSim will suck up the entire market in a matter of months. The payers will punish MNK for being so greedy. Believe it or not folks, the payers have memories too. They remember getting Acthar shoved down their throats with LMNs, P2Ps and endless appeals. The animal trials with the generic per BioSim were successful. Next come human trials.
That probably didn't come from a short seller. The price of MNK is too low to short. There has to be a reasonable margin between the street price and short contract price. There isn't enough room to short it since the stock is in the crapper. I sure didn't hear from Citron after the 60 minutes episode. They have already made their millions off of good tactics and research. Basically what they said is correct: Acthar sales will recede and the value of the stock will plummet. Will a biosimilar arrive? Probably. Questcor told MNK a story that the ingredients in Acthar can't be duplicated because no one knows what's in the vial. Questcor didn't know what was in the vial, but a solid lab can determine the ingredients. It's especially easy as unlike recombinant proteins, Acthar come from porcine pituitary, so it in effect the baseline ingredients that a lab has to study and determine what they are is a know factor.
