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Navidea Biopharmaceuticals, Inc Message Board

  • moneyonomics moneyonomics Mar 28, 2013 8:57 PM Flag

    Cardinal achieves 90-95% market penetration in the LS radiopharmaceutical space

    from insideoutsideupsidedown on iv navb board from LifSci advisors March 27, 2013 research note

    "...Navidea will receive approximately 50% of end-user revenue from Lymphoseek sales with their partner Cardinal Health, who already has a strong and established presence in this market and dominates market access and reach...."

    "...Cardinal has an estimated 80 direct sales representatives and an additional 400 radiopharmaceutical technical liaisons dedicated to the space who reach about 65% of direct customers and achieve 90-95% market penetration. Cardinal Health is responsible for pricing of Lymphoseek and has set the price at $300 per treatment. The current competitor diagnostic sells for an estimated $175-250 per treatment.
    Although it is priced at a premium, favorable reimbursement may make Lymphoseek the cheaper option for physicians and patients: In the near-term, Lymphoseek will be reimbursed outside of the CPT procedure code that covers the lymphatic mapping procedure through a pass-through C code issued for up to three years, providing additional revenue to clinics and enabling them to improve their margins on the procedure. The price is also lower than some analysts were projecting and suggests that Cardinal Health is aiming to capture a large market share by removing price as a major consideration, instead allowing physicians to focus on the advantages of Lymphoseek over its competitors and promoting optimal market adoption and penetration out of the gate. We believe that with a competitive price point, Lymphoseek will become the dominant player in this market...."

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