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Affymax, Inc. (AFFY) Message Board

  • godwinpeak godwinpeak Jun 17, 2014 2:14 PM Flag

    FYI AFFY Longs: In its 2013 Ann Rep, Takeda disclosed months ago that AFFY was doomed

    In its Sep 2013 annual report Takeda disclosed that it written down to zero value its entire interest in O. What does that tell you? It told me to stay short AFFY, and Takeda's write down of the full value of Omontys patent to zero confirmed that Takeda did not intend to reintroduce Omontys into any market. If any sales revenues whatsoever were ever expected, does it make sense for Takeda to write down the value of the O patent to $0?

    At page 117 of its 2013 Annual Report, Takeda discloses as follows:

    Impairment Loss

    As a result of the significant decline in profitability of patent rights and sales rights, their respective book values were written down to recoverable amounts, and the decrease was recognized as impairment loss....

    As described in the note of "Loss on voluntary recall of products," based on the decision to voluntarily recall a product at the Company's US subsidiary had sold, the Company recognized impairment loss on patent rights of Y4,294 million ($45,681 thousand) expected to have a recoverable amount of zero. This impairment loss is included in "Loss on voluntary recall of products."

    Loss on voluntary recall of products

    The Company decided to voluntarily recall a product that the Company's U.S. subsidiary had soled due to the unfavorable outcome from the post-marketing surveillance performed. The losses are impairment loss for patent rights associated with this voluntarily [sic] recall and other losses attributed to the Company and the U.S. subsidiary based on the arrangement with the in-licensing partner company.....

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