It's been delayed until at least Feb/Mar while a motion to join cases was granted and multiple scheduling dates for filings, discovery type things, etc. are now in place.
Originally it was a hearing for an immediate injunction would could have been kind of a binary event of it's own but now it's a case. In reality, it'll probably get dragged into a year or two long battle unless some settlement is arrived at. Hard to think how the pharma industry and the gov't could settle though, the drugs either will be discounted or not. SARAM mentioned some waivers for some of the bigger guys with lobbyists, and he may be right. We will see.
Some new attorney added on the QCOR case too. Nothing else of note at this time, although I think they only have another couple days to refile without those 2 named defendants or the motion to dismiss is carried. Since they added an attorney, my guess is they are refiling.
All due respect but you didn't think they would really let that stand did ya? That would be like trying to ban handguns or not raise the debt ceiling or cutting taxes...the lobbyist just won't allow it...
I have complete faith in the lobbyists to crush Washington dictators... but Obama also taught me to never let a fake crisis go to waste. Shorts saw an opportunity across pharma to do damage, so I cashed in with puts on quite a few stocks.
That being said. It still may stand... stay tuned for 6 mos from now.
Like I said on that last drop to 58, it's all about earnings now. No short term negative catalysts and only fake bad news.