Two-sided intensity: both new counterparties arriving and existing ones enlarging in the same recent period
The model's full reasoning — Q3 2018 call → NOWe need to determine if management describes both (1) new paying counterparties arriving and (2) existing counterparties enlarging what they take, as real events in the recent period, with management presenting this two-sided build as an observed pattern meaningful to the future. Let's examine the transcript for evidence of both sides. First, new paying counterparties: Are there mentions of fresh customers, accounts, partners, or programs that actually signed, ordered, or began transacting in the recent period? For example, Aimovig launch: "over 12,000 healthcare professionals prescribe Aimovig resulting in over 100,000 patients starting Aimovig since launch." That indicates new patients and prescribers. Also biosimilars launching: "launched KANJINTI, a biosimilar version of Herceptin, and earlier this month we launched AMGEVITA" – these are new products, but are they new counterparties? It's more about new product launches. More specifically, we need new paying customers, accounts, partners. For Aimovig, it's clearly new patients starting therapy. That's a new paying counterparty (patients, insurers). Also, Repatha efforts to improve access? That's about existing patient population. But also "we have a great partnership in Japan with our partners Astellas" – that's existing. Second, existing counterparties enlarging what they take: Are there examples of existing accounts or relationships that stepped up orders, volumes, usage? For example, Prolia: "sales increasing 15% year-over-year with 16% volume growth from share gains in both the U.S. and internationally." That's volume growth, but is that from existing counterparties? It's from share gains, meaning new patients? Or existing patients continuing? It says "Repeat injection rates in the U.S. remain especially strong at over 70%" – that indicates existing patients continuing. Also, "Parsabiv has launched in several markets including the U.S. where we continue to see strong uptake at independent and mid-sized dialysis providers. Fresenius and DaVita are gradually increasing adoption." That is existing accounts (dialysis providers) increasing adoption. Also, "KYPROLIS grew 12% year on year driven primarily by growth in our ex U.S. business" and "throughout the third quarter we've seen both new patient and total patient shares gradually increasing." That's a mix.
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PFIE · Q1 2023 → YESThe question is about whether management describes intensification from BOTH new paying counterparties AND existing ones enlarging what they take, in the recent period, as observed facts. YES Management describes both new arrivals ("new customers," "new opportunities," "several project opportunities," "notable customers" including specific ones like Equitrans Midstream and Enterprise Products) and existing-customer expansion ("repeat orders," "repeat business," "repeat orders from one of the United States’ largest producers," " 85,000 burner management solutions," "large uptick... on retrofits") as already-completed facts in the recent period. They present the combination—widening the customer base while deepening relationships—as the current observed pattern driving the business forward.
EPAM · Q4 2017 → YESThe question is about whether management describes that in the recent period the company's business intensified from BOTH directions at once: new paying counterparties arrived AND existing ones enlarg...YES Management describes both sides occurring together in the recent period: new engagements with clients (including specific examples like the European multinational and Global Health Services Company that started less than 12 months ago) alongside growth within the top 20 existing accounts (more than 18% year-over-year) and even stronger growth outside those 20 (34%). They frame this as an observed pattern of widening and deepening the business now, with continued diversification and expansion across both new and existing relationships.
UNH · Q4 2017 → YESThe question is about whether management describes that in the recent period the company's business intensified from BOTH directions at once: new paying counterparties arrived AND existing ones enlarg...YES Management describes both new paying counterparties (e.g., new states like West Virginia, hospitals using Rally, healthcare transformation alliance with 10 companies, acquisitions like Banmedica and DaVita) and existing ones enlarging (e.g., serving nearly 1 million more seniors in Medicare, 465,000 more in commercial group, strong growth with existing client base for PBM, doubled Rally IDs, 7% same-store growth for SCA, highest Q4 script growth).