Retrieved from the Earnings Call Q and A was an important detail that the Daybue gross to net adjustment for the quarter was 24.9%.
One of the reasons provided for an anticipated soft Q1 2025 result related to Medicaid increases in gross-to-net pricing which must significantly affect net sales.
Medicaid Drug Rebate Program requirements mandate that companies provide rebates on covered drugs to Medicaid beneficiaries. These rebates are paid by drug manufacturers on a quarterly basis to states and are shared between the states and the Federal government to offset the overall cost of prescription drugs under the Medicaid Program.
Kens
Ann: DAYBUE Q1 2025 net sales US$84.6m up 11% from Q1 2024, page-39
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