I called and I spoke with an IR person named Ashley. I obviously told her how angry I am about what occurred this week. I asked a simple question as to how they did not know this during the last Earnings call. She explained sometime after the call, that the hospitals informed them that they will not be ordering to due Leucovorin. She would not admit (obviously) if the guidance was conservative of 10-15. She said they expect much more revenue from Fusilev during the second half of the year as the demand will pick up. CLinics are still staying with Fusilev and will continue doing so. She said shareholders need to give the new sales team more time as they are really ramping up efforts (still half of doctors story which I am sick of hearing). She then explained the IMS system to me. They will now always know whats going on with sales
She said the new drug they picked up today should will be on a similar timeline as Belinostat for approval. I was persistent about what the earliest time Apaziquone cold be approved and she did say 2015. No matter what, 2015. The company is thrilled about this new drug they got today. Up to three NDA's in 2 years is great news
Zevalin and Folotyn are being marketed very hard and they expect increasing sales. I told her everything is BS with Zevalin and it is about time to start seeing some proof. However, nothing is expected so when it happens it will be big. She affirmed her earlier statement that sales team needs more time for results
Oh and get this, their new goal is to be more transparent to retail shareholders. She said the company screwed up with the private call and are admitting their mistake. I guess next week there is a conference and we will have much more details on everything.
I ended the call with these words. "I am extremely angry with the entire companies efforts to be completely honest with us or neglecting to see what is upcoming. Lets hope Raj steps down and gets back to the lab where he belongs"
This is easy to read , the new COO learned what was going on and wouldn't go along with game. The new management didn't figure out until they had better data systems.They were sold the same bull that Raj sold us. Old story , CEO pumps story ,management goes along ,new management shows up and uncovers and forces public disclosure. We have all seen this play many times . Raj must go now
Why would you believe anything the company says?
Cut off the head and the body will prosper in this case!!
As long as the CEO is connected to the company, in any way, correspondence from the CEO or any of his minions should not be believed and Walls street will continue to show you this over and over. IMO.
"She said they expect much more revenue from Fusilev during the second half of the year as the demand will pick up."
"The company is thrilled about this new drug they got today"
"Zevalin and Folotyn are being marketed very hard and they expect increasing sales."
All good, but what can we still believe?!
JJ, Good work and thanks. Sounds as if she has done a good job learning her lines. First, hospitals are cancelling orders for Fusilev. Really? Didn't they sign contracts to buy Fusilev to be sure they would always be able to get whatever they wanted? How much training does this sales force need? Weren't all new reps hand picked by Keller? They will be doing the same thing they did for Amgem. And why are we not hearing anything from the man in charge of sales?
IMO, the worst news is no Apaziquone before 2015. This was supposed to be on the market last year. Didn't happen, next, 2012, then 2013, now nothing until 2015. That is a disaster. With that on the market, it would not matter if there was a decline in revenues from current approved drugs. Reason being it is a $1B/yr drug with no competition. Hard to say if the FDA or Raj is to blame for such a delay in getting this unmet medical need drug. approved and on the market. Either way it's an outrage. People will die because of this delay.