MedImmune Halves FluMist Price To $23.50; Taps Henry Schein As Distributor
This article was originally published in The Pink Sheet Daily
The company had indicated a price reduction was under consideration based on weak sales during FluMist's first year on the market. In addition to selling FluMist, Henry Schein will also help promote the product to primary care physicians.
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MedImmune will add 55 commercial positions to help compensate for the loss of the Wyeth partnership. MedImmune will pay Wyeth $25 mil. plus future royalties and milestones under dissolution agreement.
MedImmune will continue developing the flu vaccine without a partner. The company has signaled that Wyeth might pull out of the partnership as a result of lower than expected revenues for the product.
One factor holding up final price is ongoing discussions as to whether Wyeth will remain in the FluMist partnership. Of the 900,000 doses sold during the 2003/2004 season, about 50% were returned, MedImmune reported.