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Regenerx Biopharmaceuticals Inc. Message Board

  • snogreen snogreen May 12, 2011 2:07 PM Flag

    Huge risks in SCLN

    SCLN not worth the risk. They will be nailed by the feds on corruption. SCLN admits it in 10-Q:

    <<The Special Committee has substantially concluded its investigation and on May 4 and 5, 2011 reported its findings and recommendations to the Board of Directors. As part of its continuing cooperation with the ongoing investigates of the SEC and the DOJ, the Special Committee has also reported findings to the SEC and DOJ.

    The Special Committee found that:

    we lacked appropriate internal controls to assure compliance with laws, including the FCPA, with respect to sales and marketing practices including payments for, or reimbursement of, third party gifts, travel and entertainment expenses, and sponsorships of certain conferences and symposia.

    we failed to adequately implement existing controls and policies including our policy that employees comply with all applicable laws.

    there was a lack of transparency between our operations in China and our operations in the U.S. such that U.S. management did not have adequate and appropriate information about our activities in China.

    The Special Committee identified evidence of sales and marketing activities that might constitute potential violations of the FCPA.>>...NEXT>???

    From 10-Q:

    << ZADAXIN prices in China are subject to regulation, and are currently under review by regulatory authorities. If a substantial reduction in the sale price to hospitals occurred, our gross margins for ZADAXIN would be substantially reduced.>>

    Duhh.....SCLN bribes and pays to get Zadaxin sold....they brag they get an 80% gross profit margin...and SCLN admits that they have no patent protection whatsoever on China sale. So why woudl China pay screw job prices by SCLN.who also pay off people in power to get others to buy overpriced Zadaxin. What if teh Gov't got really pissed off at SCLN corruption? And removed SCLN's import license, and teh Gov't then coudl buy ALL the TA-1 they want generically.

    China ain't stupid as you thinnk. IMO? they are letting the Feds do the job on teh corruption issue. If SCLN is guilty (as SCLN admist)...China will use that a proff and leverage to hammer SCLN. Wait and see.

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