Re Nextellis: They employed 75 sales representatives min March last year to train them up for US launch in July. The expected costs was $75 million. Company was going to be profit positive in first year of trading. This has been a disaster. They should lay 95% of those off. If the product is superior to others it will self generate through HCPs and word of mouth results. It doesn’t matter how these reps. Sell and spruik should it not satisfy consumer they will drop it. It’s not like they’re signing up 5 year contracts. It is all hopefull wiishing. Mithra is down 70% this year due to failure of Nextellis in USA. With Richards gone company probably $100 million per year in front. Double that if we go on last 5 years. I am so frustrated today I’m going to a bar somewhere. I wish all shareholders a good day and prosperous year ahead with MP.
MYX Price at posting:
32.8¢ Sentiment: Hold Disclosure: Held
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