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  "documentTitle": "Harmony Biosciences (HRMY)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2023-03-28 00:00:00",
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      "text": "There are almost no high volume prescribers of Wakix who are not paid speakers for Harmony, and even they are generally ambivalent about the drug.",
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      "text": "1. There are almost no high volume prescribers of Wakix who are not paid speakers for Harmony, and even they are generally ambivalent about the drug. Some of the highest volume prescribers nationally - in the top ten - bluntly stated it doesn’t work.\n2. Wakix has a supernormal patient discontinuation rate of 30-100% - per individual data points from interviews - typically within weeks or months, due to lack of efficacy and/or side effects. Every single physician, including speakers, provided this color.\n3. Physicians generally don’t think Wakix has an effect, or at best an incremental one. Some speculated it’s simply a placebo response, with even the highest volume prescribers conveying the tone that “it’s better than nothing.”\n4. Essentially every physician – even among its most ardent “fans,” i.e., speakers – uses Wakix as a 3rd or 4th line drug as part of a cocktail, illustrating the widespread perception of its negligible value. Doctors emphasized it is not a monotherapy and that even Wakix reps only promote it as part of a combination.\n5. Wakix is a failed drug launch with no buzz or enthusiasm among sleep physicians, with even speakers saying that Harmony’s market opportunity is saturated, with usage peaking in 2022 and little growth remaining in terms of new patient starts or new prescribers.",
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      "text": "We conducted interviews with 16 current and former prescribers of Wakix. We consulted a broad, geographically diverse panel across various practice settings, and specifically sought out a number of Harmony’s speakers and highest volume prescribers – we spoke with 6 of the top 10 recipients of payments from Harmony per the CMS OpenPayments database. We summarize the main findings below:",
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      "text": "“it’s better than nothing.” — Anonymous physician",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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