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Mesoblast (ASX:MSB) has announced its product Ryoncil is officially available for sale in the U.S. through private health insurance.
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But the news wasn’t enough to satisfy the impatient, with some shareholders on HotCopper stating they’d prefer to have seen revenue numbers.
Still, others were pleased to see sales go live one quarter after the FDA approval move that put Mesoblast on the map – and made it one of the hottest biotech plays in recent memory.
The dual-NASDAQ-listed company, whose product is ultimately a stem cell drug treating graft versus host disease, is keen to sell its biotech product on a two-injections-a-day regimen that spans four weeks.
To do so, the company has set up a “patient access hub termed MyMesoblastˆ where the drugs can be bought. Included is information for healthcare providers, which between the lines, sounds like Mesoblast is doing the work of advertising its product around to hospitals. That too could explain some shareholder recalcitrance.
“We have been engaging with commercial and government insurers to expedite patient access to therapy. To date nine commercial payers have published favorable medical policies representing approximately 37 million covered lives in the United States,” Mesoblast wrote on Thursday.
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“We continue to broaden the commercial payer access landscape on a daily basis. The Company will enter into the National Drug Rebate Agreement with Medicaid and expects to be enrolled in the program in short order.”
With the U.S. currently the way it is, perhaps nerves aren’t so hard to understand.
MSB last traded at $2.15/sh.
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