PaySign, Inc. (NASDAQ:PAYS) Q1 2024 Earnings Call Transcript

But just because the drug goes generic doesn’t mean that the claim volume cease to exist. If you go back to the days of CRESTOR, LIPITOR Plavix, right, when those drugs came out, CRESTOR went LOE, or loss of exclusivity, the pharma company did an amazing job in contracting of keeping that drug on Tier 1 formulary above generics. So even though — especially in the retail space, when a drug goes generic, it doesn’t necessarily mean the end of co-pay. You look at all the Humira biosimilars that are out there now, look at formulary coverage for Humira, there’s like nine or 10 generics or biosimilars — no one calls them generics — but there’s nine or 10 biosimilars available. Humira still has top bill in that space for a lot of plans. So we don’t want a bunch of assets coming on that are going to lose exclusivity in six or 12 months, right?

So we like stuff that’s got some tail left to it to deliver some immediate volume now while we continue to build the overall long-term multiyear pipeline.

Operator: Thank you. We reached the end of our question-and-answer session. I’d like to turn the floor back over for any further or closing comments.

Mark Newcomer: I’d like to thank everybody for joining us today. A special thank goes out to all of our employees and our Board for their continued hard work and support. 2024 has started off very excitingly, and I believe the rest of the year will be equally promising. We’re looking forward to updating you on the next call. Thank you all very much for joining, and have a great day.

Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your line at this time, and have a wonderful day. We thank you for your participation today.