Friedman, Billings, Ramsey analyst Jim Reddoch published numbers that suggest Pfizer has paid more to acquire and market the bong-like diabetic device than it can make back in sales.
The inhaled insulin tube has already run into skepticism from analysts and doctors who doubt that Pfizer can turn the brand into a $2 billion-a-year revenue driver that the company predicted to analysts in January.
In a note covering Nektar Therapeutics, the San Carlos, Calif., manufacturer of the Exubera device, Reddoch wrote Thursday: “With lackluster demand so far, Pfizer has built up nearly $800 million in Exubera inventory this year and, based on guidance, will have over $1.5 billion in inventory by the end of this year (i.e., nearly three years' worth of demand, based on our estimates).
More at Brandweek
The inhaled insulin tube has already run into skepticism from analysts and doctors who doubt that Pfizer can turn the brand into a $2 billion-a-year revenue driver that the company predicted to analysts in January.
In a note covering Nektar Therapeutics, the San Carlos, Calif., manufacturer of the Exubera device, Reddoch wrote Thursday: “With lackluster demand so far, Pfizer has built up nearly $800 million in Exubera inventory this year and, based on guidance, will have over $1.5 billion in inventory by the end of this year (i.e., nearly three years' worth of demand, based on our estimates).
More at Brandweek
Insider's suggestion: turn the Ann Arbor offices and labs into warehousing!
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