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SciClone Pharmaceuticals, Inc. Message Board

a65232389 9 posts  |  Last Activity: Feb 1, 2014 5:56 PM Member since: Sep 24, 2009
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  • I hope stock buyback wasn't necessary to support it at this level.

  • PWC quits right at the beginning of the work for the 2013 audit. The timing can't be an accident. SciClone engages the PWC Chinese affiliate, but they and the Chinese affiliates of the other Big Four auditing firms were barred two days ago by a U.S. judge from auditing US-listed companies for six months. I guess there will be appeals to the ruling and such, but what happens with the timing of the 2013 audit? This is not good. E&Y quit about 10 months ago, now PWC just drops SCLN like a dead fish. What's next, besides DC Bead approval any day now?

  • a65232389 by a65232389 Jan 9, 2014 11:42 PM Flag

    Today Blobel says 2014 anticipated revenues of $130-135 million. Exactly one year ago he said 2013 revenues would be $150-155 million! This is going backwards! Last year he said year end 2012 cash would be $87 million. Today he says year end 2013 cash will be $86 million. Wow! What a difference a year makes. But there's even more. Over the same one year period SCLN stock has gone UP 6%! However, the Nasdaq Biotech index over the past year has gone UP 61%! Even the S&P went up 30%. To add a bit more potential difficulty, the Chinese Health Ministry last week said that they can bar the sale of any company's products for 2 years if they are found to be involved in bribery. Just how bad is SciClone's potential exposure here?

  • Reply to

    buyback?

    by thebasiles777 Sep 5, 2013 8:22 PM
    a65232389 a65232389 Sep 6, 2013 3:52 PM Flag

    Only 2.3 million more shares to go to buy back all the stock Blobel wasted on NovaMed! At August 7, 2013, SciClone had repurchased 6 million shares for $30.6 million. They gave away 8.3 million shares in the NovaMed disaster. So with the authorized additional cash to buy back more stock, for only about $12 million the stockholders can finally mop up this end of the NovaMed debacle. Too bad it cost over $42 million in cash, not to mention the additional $28 million in cash p*** away in the acquisition itself. No wonder the board felt that Blobel deserved a special $200K bonus for 2012 which was almost twice the paltry amount of 'performance-based' bonus the board could conceivably justify paying him.

  • Reply to

    Just standard operating procedure

    by a65232389 Aug 14, 2013 4:38 PM
    a65232389 a65232389 Aug 14, 2013 5:30 PM Flag

    Use off-label is entirely permissible almost every where - certainly in U.S., Europe, and also in China. However, the PROMOTION of off-label use is illegal in U.S. and in Europe (just look at Baxter's big fine). In China, its a gray area because there is the very reasonable exception of the dissemination of scientific information, such as, say, the use of thymosin for treating sepsis. What gets murky and questionable is if salespeople are 'pushing' the information. Along with other reforms, off-label promotion is an area where the Chinese are looking to tighten up to be more like the U.S. and Europe.

  • In today's Shanghai Daily, the sales person claiming that her employer Novartis instructed her to bribe doctors "said she was also asked to persuade doctors to prescribe the drug to patients with off-label diseases, or illnesses not included in the list of those targeted by the medicine." Heck, that's how SciClone gets the majority of its Zadaxin sales in China. Blobel on the last conference call even gave the outline for a new plan to promote Zadaxin for sepsis in China. Off-label promotion is illegal in the U.S. and in Europe but such rules and regs are not so well defined in China, so I guess its okay with SciClone's new and improved, iron-clad compliance effort.

  • Friedhelm Blobel, Ph.D., SciClone President and Chief Executive Officer, commented: "We are pleased with SciClone's continued strong financial performance, most notably, the increase in ZADAXIN revenue by 19% and 27% for the quarter and year-to-date, and our ability to deliver an impressive rate of growth that continues to exceed that of the China pharmaceuticals market." Ooops. That was what Friedhelm said exactly one year ago. Zadaxin so-called sales for 2Q last year were $30 million. Now Blobel is saying, this time for sure, Zadaxin quarterly sales are running at $30 million (what's needed to grow Zadaxin sales by 50% in the second half). We now know that Blobel and Titus were stuffing the channel like mad a year ago which allowed them to cash in $1+ million of options in June 2012 at $7. But now things are different. Trust him.

  • Reply to

    Whisper number for August 7th

    by vodka_voltage Aug 3, 2013 2:32 PM
    a65232389 a65232389 Aug 3, 2013 4:18 PM Flag

    Who knows? It probably depends on the accounting treatment for NovaMed sales. I'm sure this was resolved weeks ago and could have had a direct effect on Q1 and subsequent earnings. Blobel just decided that shareholders shouldn't know about it yet. We'll see on Wednesday. But it won't be a big deal. Bigger issue is how to grow sales with the same old, same old product and management's inability to stay out of trouble.

  • Reply to

    Finally some news

    by newsofal Aug 1, 2013 4:55 PM
    a65232389 a65232389 Aug 2, 2013 3:04 PM Flag

    No mention of what happened to the Q1 earnings. The "technical accounting issue" was to determine whether or not there would be any earnings. Since they decided to blend it in with Q2 my guess is that the answer to the accounting treatment was unfavorable. Bigger and longer term issue is what effect if any the hunting for bribery in China will have on Zadaxin sales. Will docs be less willing to prescribe very high priced foreign drugs (compared to far less expensive generics) in order to avoid suspicion and questioning of why by authorities?

SCLN
4.84+0.02(+0.41%)Aug 1 3:59 PMEDT

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