MYX mention they have created another non retail sales channel in their reports. I figured it was just selling to hospitals etc i left a message for Lisa and she rang me back, answered questions and offered a lot more info for 15 minutes. Last time I called her about 3 years ago she also called…next day. MYX work with drs and some of the independent pharmacies - from the 10%. 90% of drugs are controlled/sold by 3? pharmaceutical conglomerates. Manufacturers sell their drugs to MYX, who supply the independent pharmacies that they have signed up. MYX also visit the drs and get them to send their prescriptions electronically to one of the selected pharmacies to fill the scrip. The pharmacy posts the drugs to the patient. the drug manufacturers make a larger margin selling through MYX than selling to DIRECT to large retail chains. MYX on sell to the pharmacies in their arrangement. The price competitiveness is avoided that occurs when large chains screw down the manufacturer and then screw them down again due to a further level of competition that occurs between the large retail competitors. This allows MYX to sell product at a reasonable margin. The MYX sales force now has 25 drugs to educate the dr about which makes the return to MYX more profitable. The manufacturers have a very competent sales force to use, who are already well connected and trusted by many drs AND don’t have to support their own sales force to visit dermatologists. 2 recent drugs are getting large shares of market.
MYX Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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