You won’t believe the identity of Galena’s best customer! – GALE

Just for fun, lets take a deeper look at the retail sales numbers for Galena Biopharma‘s me-too fentanyl drug Abstral in Q4 2013, and attempt to answer the question, “Just who is buying all the Abstral?”

It turns out, that for Q4 2013 the largest buyer of GALE’s Abstral has been…

Galena itself.

The pink line, “Assistance Program“, is Galena’s free fentanyl program and associated discounting. It is by far the largest buyer of Galena’s own product. Based on this independent prescription data, it looks like approximately $1.16mm of Q4 Abstral purchases were made with GALE’s own money.

Galena’s infamous stock promotion campaign was probably more cost-effective.

As an aside, the cash purchases, indicated in yellow, seem to correlate well with Hannukah and Christmas. Any thoughts as to who buys opiod drugs 20x stronger than heroin for cash? Diversion, perhaps?

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