B/O talks --take 4-8 months. Launch can not be delayed for that.
Sales force hiring will be announced in Nov.2012.
Amylin did that with their diabetic drug in Feb.2012.
Warner Lambert did that with Lipitor in 1996/97.
Amylin B/O happened in July-Aug.2012 (transfer of power takes even longer-- at least 3 months as stocks have to be turned in and SEC has to be informed-before BMY or AZN takes over marketing.
B/O agreement between 2 parties could be signed in Dec.2012--but Buyer could not market for 3 months because of TRANSFER of Power--takes at least 3 months.
The earliest a Buyer will be able in Launch will be after March,2013.
So SELF LAUNCH -Hiring of Sales force--must go on NOW--in November.
I would suspect a cash offer is what most sh want . I'm not opposed if acquisition contains stock for example . Wondering on the tax issue in that event to stock holders and also acquirer . I reference the Biovail merger . BVF went up nice and moved higher as merger with VRX value kept going up . VRX CEO Pearson made mention of tax advantage to analysts . Biovail was in Canada . Food for thought . Imo only .
i hope they realize that if they announce they are hiring a sales force, they had better SIMULTANEOUSLY announce that they also have offers in hand, or are at least in late stage talks, or they are going to trash the stock price...
Who cares what happens to the stock price near term if they are taking the right steps? As long as they are still entertaining offers, then I'm not worried about the near term price because the payoff will be there once the buyout happens. The only reason to worry about that is if you are selling / daytrading this stock. If you are long, then sit back and wait for your payoff.
Sentiment: Strong Buy
Amylin did not give any details on B/O during Sales Force hiring.
Now we know thru SEC filings in July,2012--that there was a bid by Bristol Myers at 22$ on Feb.15th,2012 when BMY CEO called Amylin's CEO.
But Bloomberg found out on March,28th,2012--but Amylin never confirmed inspite of lawsuit by Ichan.
B/O process takes long time.
1) Financial advisors have to confirm "Proper process was followed in B/O"
2) A reputed lawfirm has to confirm "Proper Process was followed in B/O"
Otherwise people can sue that Amarin accepted a low bid of 30$--they could have gotten 45$ bid from so so etc.
Amarin will announce HIRING SALES force in Dec.2012--as
Sales people availability is plenty-from Pfizer,Astra Zeneca's layoffs.
It takes one week to retrain these people.
District manager need 2 weeks training--So if they join on Dec.15th--The launch can happen on Jan.3rd.2013.
Vascepa website is ready.
Pharmacists have been informed.
Cardiologists have been informed.
Production is going on.
Inventories are being built.
Paul Huff was hired in Feb.2011 as Chief Commerical officer and was paid 6.8 million$ in 2011. He launched Lovaza in 2004-2005. He launched Niaspan. He has 25 years experience.
Amylin's CEO was paid 4.5mil.$ in 2011--
Amarin's CEO was paid 5.5 mil.$ in 2011.
Reason for giving Amylin's example. Their Bydureon was approved by FDA on Jan.27th,2012.
They hired Sales force starting April,2012--while B/O talks were on going.
B/O was announced on June 29th,2012.
Bydureon launch happened in April,2012.
BMY -hired its own sales force in Oct.10th,2010--Statement by Pascal Soriot of Astra Zeneca said that on Oct.25th Conference call.
thats my thoughts exactly, why say go it alone to only see the pps fall 25% then make an announcement weeks later about an offer, sure would be a slap in the face to current holders but it would not suprise me considering JZ's timing of sells in the recent past, i think us small holders are not even an after thought to management, they do what they want, when and how....no regards for pps imo.
You will hear about it soon.
Remember--CEO's words: There is plenty of availability of Sales people--
BMY,AZN,PFE and others have laid off tons of sales people in late 2011 and early 2012 as their patents expired.
PFE sales dropped from 67.4 bil.$ in 2011 to Est.59.5 bil.$ in 2012
AZN sales dropped from 33.6 bil.$ in 2011 to Estimated 28.2 billion$ in 2012.
Pascal Soriot (CEO)and Lowth(CFO) showed charts on Oct.25th--that they cut back S,G&A by 12% in 2012 compared to 2011 for Astra Zeneca.
So if Launch date is Jan.2013-- Hiring can begun in late Nov..
Training takes less than 2 weeks for experienced people.
Remember--Amarin has to pay from Date -when they join.So why pay them more than 2 weeks wages before the launch.
Paul Huff -Chief Commercial officer made 6.8 mil.$ in 2011.
District Managers may be hired 3-4 weeks in advance.
So hiring can be delayed to Dec.2012-- SAVES MONEY.