Bad news for the insulin spray gun, as sales are not meeting expectations.
Analysts were forecasting blockbuster annual sales of $2bn (£1.01bn, E1.49bn) for the insulin spray. It delivered just $4m in the second quarter of 2007 – the first time Pfizer disclosed sales of the product.
In July, Pfizer launched a massive television and print ad campaign in the US to jump-start sales. Reducing the number of inhalers produced is a clear indication management are unsure their next campaign will have much impact on sales.
The cutbacks are spelt out in a report filed with the US Securities and Exchange Commission by West Pharmaceutical Services, the American drug technology firm that makes about 60% of the device.
It said: “We expect Pfizer’s high inventory levels and slower-than-expected demand will affect our fourth-quarter 2007 and full-year 2008 sales levels. In coordination with our customer, Nektar, we have reduced production to one shift per day at our dedicated facility beginning in the third quarter of 2007.”
Perhaps the diabetics feel self conscious pulling out what looks like a bong in the middle of a restaurant, and taking a hit.
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(via KevinMD, and PharmaGossip)