I strongly believe if these 3 things are done, the stock price TODAY would be north of $200 per share.
The Board has to speak publicly to Shareholders on the following topics
1. Why are we not expanding in Row markets for the great products that taro has like Topicort spray, Ovide, etc ?
2. Why are we so averse to presenting the GREAT Taro Story to Mutual Fund managers (allocators of market moving capital in the USA) in major investment conferences like its peers Perrigo , Actavis do ?
3. Why are we not pursuing inorganically building pipeline by using Cash ($600m) aggressively.
Some shareholders have asked these questions for over 2.5 years
not at all confident BM will win. Everything depends on why the volume increased in Jan and Feb.
If (BIG IF) it was due to an existing or new activist investor, then we have a 60-40 chance to win.
Otherwise we most definitely lose.
Also, remember per the text on Proxy, absentee votes are counted as BOD recommendation.
Agreed. BM candidates lose - Downside is not there. However, if BM Candidates win - IT IS GAME CHANGING. Valuation IMO has potential to go to 15 times ttm EBITDA....Plus items like RoW markets exploitation, investment conferences, aggressive use of cash will at least have to be heard and responded to by Board to the BM candidates.
Very Surprised how low key THIS GAME CHANGING VOTE has been. This company has "SLEEPING Shareholders".
I dont necessarily ascribe that sppi trades at undervalued prices.
Again, I would not assign much valuation to apaz (failed phase 3), sppi 2012 (which has still NOT passed phase 2 yet) and zevalin (while sells $36m a year is not profitable), belinostat is in a very crowded and tiny ptcl market
Fusilev with $70m is the only real drug. Folotyn has many challenges ..see 15% decline
So while on paper one may be tempted to value this high..the valuation of $400m is actually high.
if sppi 2012 passes phase 2 with comparable or better results than say neulesta, then the valuation of $400m maybe inappropriate....Until then i dont see this undervalued.
Plus, you have management that street DOES NOT TRUST ONE BIT.....and there is ZERO ACCOUNTABILITY ON MANAGEMENT
you said it right.
Fusilev debacle, Folotyn -15% YoY, Zevalin -3% YoY despite worldwide rights, despite Bexxar announcement. Joe Turgeon started working on 29th Oct 2012, then there was a reorganisation announced, dividing the country in 6 regions. A team of nurses was hired to educate clinics on how to manage mucositis caused by Folotyn, headcount in the company increased, etc. Results? None, or rather, negative.
Per guidance Fusilev after the 1st huge debacle where reality was 45% downward guidance compared to forecast of growth just a few weeks ago. The guidance of $85m was also not met...i think they made $70m
Don't listen to Blogger friends (105-b is in full swing)...
Per guidance Folotyn was supposed to double in "a few years" once they manage mucositis.
Per guidance, Zevalin would be $300m drug in "a few years"
Despite all of this somebody made $8m in 2012 and good chuck in 2013. Shareholders like me lost a ton of money listening to this bs guidance.
we live in a world where retail investors are suckers...SEC is useless
like its market peers perrigo and actavis taro should indeed go to investment conferences where mutual fund managers who allocate capital of millions of americans in their retirement and other portfolios.
is there any justifiable market reason for perrigo and actavis to trade at higher valuation multiples ?...If anything taro should trade at higher multiples based on its historic growth rate, fortress balance sheet and operational excellence.
it is my humble opinion that taro's true market price can only be found when taro attends these investment conf where mutual fund managers attend. It is the mutual funds like vanguard, dimensional fund, janus, etc that make the market and move the market for stocks.
taro will also experience Fair (peer) market liquidity around 100K daily share volume if these mutual fund managers hear about the value proposition of Taro
BlueMountain urges shareholders to exercise their voting rights in order to protect their interests as minority shareholders. BlueMountain intends to vote, and recommends that its fellow minority shareholders vote:
"AGAINST" the re-election of Taro's nominees, Ilana Avidov Mor and Dan Biran, as external directors [Proposals #5(a) and #5(b)];
"FOR" the election of BlueMountain's nominees Ben-Ami Rosenfeld and Adi Bershadsky as external directors [Proposals #6(a) and #6(b)];
"AGAINST" the approval of Taro's Executive Compensation Policy [Proposal #1];
"AGAINST" the approval of the remuneration of Dilip Shanghvi [Proposal #2];
"AGAINST" the approval of the remuneration of Sudhir Valia [Proposal #3]; and
"AGAINST" the approval of the remuneration of Subramanian Kalyanasundaram [Proposal #4].
Voting "AGAINST" the re-election of Ilana Avidov Mor and Dan Biran
External directors play a critical role in representing the interests of minority shareholders and providing a measure of independence at companies like Taro where a controlling shareholder holds the majority of the share capital. BlueMountain believes that Taro's current external directors, Dan Biran and Ilana Avidov Mor, have failed to adequately represent the interests of minority shareholders and there is a clear need for new and improved independence and oversight on Taro's board.
Under Israeli law, external directors are elected only once every three years. Therefore, this is the only opportunity in the foreseeable future to directly influence the corporate governance of Taro and assure that the interests of the minority shareholders are protected.
BlueMountain believes that minority protections provided by Israeli law played a pivotal role in thwarting the offer by Taro's majority shareholder, Sun Pharmaceutical Industries Ltd. ("Sun"), to acquire the minority shareholder interest in August 2012 for $39.50 per share (the "Acquisition"). The $39.50 per share price that Taro's boar
or does the CEO tell "Best is yet to come" ?
god knows when it will come ...5 years? 10 years ?20 years ?
I would rather like a management that sandbags, under-promises and over-delivers.
Look at 2012 on fusilev guidance.
i am talking all. I am not just talking Raj. why not just be realistic ? sales of their 3 drugs have all gone down since 2012.
Anyone know this ? Explain this below text in plain English pls
"if no directions are indicated the shares represented by the proxy will be voted as recommended by BOD"
the problem is it will always remain a GREAT BUY. valuation will never reach peer levels.
my fnma has almost doubled...wish had more $ there
Sun Pharma seeks to enter Japan generics market
By Reuters Mar 06 2014 , Mumbai
Sun Pharmaceutical Industries Ltd, India's biggest drugmaker by market value, is looking for partnerships or acquisitions to enter Japan, an especially lucrative market for manufacturers of low-cost drugs, a senior executive said.
Politicians are lobbying for more generic drugs to go on sale in Japan to bring down healthcare costs for a rapidly ageing population.
Indian pharmaceutical firms are the world's biggest manufacturers of generics, but Lupin Ltd is the only Indian drugmaker that has so far made significant inroads in Japan.
"At an intent level, we would like to participate in the Japanese generic market. But we are still thinking through as to what's the best way to participate," Uday Baldota, senior vice president for finance and accounts at Sun, told Reuters.
"It could be a partnership, or an acquisition. We haven't really narrowed down the specific way of doing it."
Mumbai-based Sun gets more than half its sales from the United States, the world's biggest pharmaceuticals market.
Sun has expanded in the last few years, mainly through acquisitions, and Baldota said the company was on the look out for more purchases. He declined to give details, however.
"We will do acquisitions and remain keen to do acquisitions, but it's not necessary for us to do an acquisition just to grow our business," Baldota said. "We feel comfortable doing large deals. That is not something that will deter us."
Sun was said to be in talks last year to buy speciality drugmaker Aptalis from private equity firm TPG Capital. In January, Forest Laboratories Inc agreed to buy Aptalis for $2.9 billion.
Sun's talks in the same year to buy Swedish drugmaker Meda, a maker of speciality products, over-the-counter drugs and branded generics, foundered on valuation, sources with direct knowledge had told Reuters.
In 2012, Sun bought U.S.-based Dusa Pharmaceuticals Inc for about $230 milli
this sucks real bad....considering retail is generally uninformed.
I am still hopeful of new chapter a partnership between majority and minority guided by values of integrity, humility, and accountability towards one and all shareholders maybe they could do one of the 2 things
1. If vote is based on ETHICAL standards, they should simply NOT count the absentees.
2. Better still, the track record of the 2 indie dirs to protect minority shareholders is clear. Maybe they can simply listen to the top minority shareholders Iszo and BM and withdraw the incumbent indie dir nominations.
The yardstick of "doing the right thing" should be measured by "what would I do if this were my last day in life"