Dear Congressman Price,
Near the end of 2012, I dropped you a note seeking assistance to get DEA to file the paperwork
on the scheduling for a new drug that FDA had approved in June of 2012 (the drug is called
Lorcaserin). In that note, I asked you to look into why, exactly, it would take DEA six
months to put into writing, something FDA had put into writing six months earlier?
Well - some weeks after the note I sent you, DEA did (on Dec 18, 2012) finally come through
and filed the preliminary scheduling information for Lorcaserin - a FULL 6 MONTHS AFTER
FDA HAD HANDED THIS ASSIGNMENT OFF TO DEA!
So - that initial schedule found its way onto the Federal Register on Dec 18, 2012: Federal
Law then requires a 30 day comment period in the Federal Register. That comment period
expired Jan 18, 2013.
It is now March 21, 2013. IT IS NOW MORE THAN 2 MONTHS AFTER THE COMMENT PERIOD ON THE
FEDERAL REGISTER HAS EXPIRED. And yet we have heard NOTHING from DEA on this matter?
At this point in the process, the best that can be said for DEA (regarding Lorcaserin
Scheduling) is that they're the epitome of Washington bureaucratic bumbling and ineptitude.
And at worst - there are many people now suggesting DEA is being influenced by financial
forces that stand to benefit from delays in the introduction of this important new medicine
(delays due entirely from DEA stalling the final paperwork!)
Please look into this apparent stall within the DEA. If there is a reasonable explanation
for this stall, then please have DEA EXPLAIN the stall.
Speaking for myself, I'm no longer going to quietly stand by and watch lethargic, slothful
Federal agencies just suck tax dollars out of the economy. I want results. And I expect an
answer on this Lorcaserin stalling tactic from DEA.
Thanks and regards,
Part 2 of Letter Draft
Many of the large financial firms invested in a competing drug instead made by Vivus. They also have been holding large short positions in Arena, where they need the stock price to move either up or down to profit. It’s likely they are also ‘naked shorting’.
The Vivus product was approved within a few weeks of Arena’s Lorcaserin, did not require DEA scheduling and has been on the market since late last year. Its performance has been very poor and the stock price has decreased 60-70% from its high. Some of the large hedge funds, brokerages and other funds have significant losses.
In essence, they bet heavily on the wrong horse. Now, how do you reduce your loses and buy into the company that has a certified better safety profile with similar efficacy, price and insurance coverage? One way would be to promote Vivus to increase the price and sell my shares at a reduced loss while trying to weaken the position Arena so the stock price decreases and I can buy it at a discount, cover my short positions, etc. Simple manipulation.
Some ‘analyst firms’ have been regularly publishing misinformation about Lorcaserin, statements that are clearly false and contradict the FDAs documentation. The longer I can play this game, the better off I’ll be. So, why not use any methods of influence to delay the simple task of DEA scheduling?
Please contact the DEA and obtain the reason for their continued delay of final scheduling. If there is a reasonable explanation for this stall, then please have DEA explain it to you, Arena and the public.
Sentiment: Strong Buy
Excellent work! I wish there were more people like you that don't just stand idle watching the events that will determine the course of the rest of their lives unfold without doing something about it!
Sentiment: Strong Buy
this is the only way this will move forward. in washington only the squeaky wheel gets greased. right now it is likely there are other forces out their trying to influence and tie up the dea. they would be an easier target than the fda because they need political support. f
nice inishative TDM and f,,,k what others say.The ones who say thats just the way it is will be lead to their and the countries dimise...The way i suggest and the only way I feel to get the government and its agencies to work right is in voting these politicians out,,,90% of them starting at the top with Obama and with the republicans also....of course there is another way but i would rather not see that but I feel its coming....the system is corrupt and we just keep the corrupt people in office.I dont believe the comments that the DEA is taking bribes they are just an inept government agency.My nephew works for the DEA in a different department totally,vetenarian,and he has told me they do basically nothing fast its just a scam...ohh he makes six figures too