CNBC, Patent Cliff, Big Pharma raising capital....
CNBC just had a spot on Big Pharma and how they are handling the patent cliff. Pfizer spun off ZTS today to raise cash for among other things, "buying smaller companies." Bristol-Myers recently raised cash the same way. Zerenex coming out of Phase III with stellar results could not have happened at a better time. Now, will the Big Pharma's who are competing with each other for new product wait for full FDA Approval of Zerenex or will they repeat what Allergan did with MAP and buy on NDA Acceptance....or will they say..."We can't afford to let anyone beat us to this new Market leading Nephrology/Anemia drug. We have to have it now." ????? This is the question that allows Longs to sleep well at night and shorts to knash their teeth.
The problem is they have not even submitted for NDA here in the US. CC mentioned late 1Q/13. Japan's news of filing was only a 6% bump on the news and it sold off going into the close so it really turned out to be a non event.
@Joe.....What problem are you talking about? There isn't any problem, just a process involved here. A long, time consuming process. Keryx is much closer to the end of this process than the beginning of it. Most drugs do not make it anywhere near this point. The Z Phase III had a SPA. The FDA Approval is as close to a given as you can get. NDA files next Quarter. These things have a timeframe out of Keryx's control but we are advancing right on schedule. If you want instant gratification, invest in a non government regulated industry.
Mid 2013 we will see results from the P2, if these are as good as last results another triple is possible and a buyout could be around $30 a share or more.
And the best part is there are currently no FDA approved phosphate binders in NDD-CKD.
I agree with you Cossack. I was pointing out that the timing could not be better. MAP already has Law Firms soliciting Class Action Suits claiming their sale price was too low. Allergan was MAP's marketing partner. What I really see happening here is KERX being like the "Belle Of The Ball" with multiple, cash rich, Big Pharmas gathering around her to partner or purchase. Those Big Pharmas facing the fiscal cliff need to replace those revenues now....or have some very unpleasant shareholder's meetings later.