Leaving aside Copaxone where they have lost the suit (pending appeal), this is a LOSS MAKING COMPANY AT LEAST FOR THE NEXT 4 YEARS.
Their next product will launch in 2018 if they have all ducks in a row which I doubt.
The management's incentives/compensation is COMPLETELY OUT OF WHACK with this looming reality for years. Take for example, CEO who came in 2006 - he got 2% of the company in the last 5 years..When he came in the ONLY 2 ANDA's had already been filed. His contribution would be to get the next pipeline product launched in 2018 ?!? 12 years of easy salary?
Keep in mind they could have gone after a number of limited competition complex generics like fondaparinux and diversified their revenue and be profitable.
Based on the current business prospects this company is hugely overvalued at $13....I wouldn't pay $5 for this management and company.
You are right on that the management of the company is not performing and way overpaid. CEO and Board are writing checks to themselves on the back of investors, i.e., owners of the public company. The investors/owners (however, fragmented and small) asking the CEO and Board to either perform or leave this company.
No buyout- this small co has no real new drug to put it on someones list of candidates(yes 402 is out there but notenough intrest in it). They copy existing drugs and then after losing patent battles they will have to wait till expiration to sell them (and the next five drugs are tied up with Baxter). I should restate they hope to copy existing drugs, the FDA has not approved a second drug that would give credible evidence to the science they use.
Eh. M-copax can still get approval, they just can't sell it. Also, the enox lawsuit is a potential catalyst, although the trial has been moved to January since Amphastar is completely stonewalling MNTA