Things CEO Walbert did besides worldwide launch of Humira for ABT
"Prior to his tenure at Abbott, Mr. Walbert was with Searle/Pharmacia where he held several marketing roles for CELEBREX® in North America and coordinated international CELEBREX® launch and post-launch activities in key global markets". This is important because Duexis is positioned to go after the former Vioxx/Celobrex Cox-2 NSAID space before Vioxx was pulled and Celebrex restricted due to causing heart attacks etc. They were billion dollar + drugs and Duexis is particularly targeting docs who used to be high Vioxx prescribers so a very relevant, rich target. I was disappointed that Duexis gross rev differed so greatly from weekly $ value Rx data in Q2 but I can't find a problem causing concern and I've been looking hard so it's looking for now like a transition quarter issue as postbusters has said. The price action is awful and disturbing particularly since I let myself get way overextended in it but I just can't find a problem so hopefully we'll soon see a good recovery. While Duexis is OK it appears there could be a real problem with Lodotra in Europe so that will need to be watched but revs were so terrible for that in Q2 it's hard to see much more downside risk there.
CEO is a remarkable individual and at the best news is that he is only 46 years old and will likely be with HZNP for the long haul (as it is his baby). Would be difficult to find another in the industry with anything approaching his resume at that age (or any other). Experience includes already having been CEO of a previous company which was bought out.
Nobody is perfect though. I was disappointed with his being caught by surprise with rx substitutions (a subject which had been frequently discussed on this board), the way he let the shorts take advantage of the debt covenant to tank stock price (he finally came out with a statement to quell jitters, but damage was already done), He was also late to the bank, and should have initiated the private placement while stock price was high.
Mistakes put aside, they don't take away from the respect the industry and major investors have in him (as shown by their large stakes in the company and patience with the stock price). His "direct sales" innovation may change the industry, and break the back of "profit over patient" minded pharms. His stated intent, to develop HZNP into a major pharm by bringing on additional products to market has been stalled, but will eventually be a huge payoff to investors.
Those who try to minimalize TW's accomplishments are obviously looking for short term trading profits and not at the facts. In barely the first year of operation, the company got two drugs approved through the US and Internationally, initiated international partnerships and domestic distribution, executed as seamless price increase strategy (genius) which greatly enhanced Duexis value, etc. etc. Rayos will also be a big hit.
Thank you for posting to the HZNP Yahoo message board. Your "remarkable individual" of a son is truly transforming the healthcare world as we know it today. The sheer genius of combining two generic medicines into a single pill and charging 20X the cost of the generics alone should really elevate the young man to the status of a MacArthur Genius. It's unfortunate that all the evil doer forces out there are keeping his company down, but we all know one day Horizon will be bigger than Pfizer, Merck, Novartis, GSK, Sanofi, Abbott, Roche, J&J, Lilly, Astra, Bayer, Takeda, Shinogi, Astellas and BMS...COMBINED!!
We will patiently wait for that day as loyal shareholders - or if we don't see it, then so shall our children, well...grandchildren, well...great grandchildren, ummmm...great - great grandchildren??? Well, somewhere down the lineage at least.