Icahn to Yahoo Finance: It's going to be a real 'bloodbath'
Yahoo Finance has obtained a policy paper written by Carl Icahn on income inequality that the billionaire financier recently sent to Donald Trump and others on Wall Street and in Washington. In the paper, Icahn warns of “dangerous systemic problems that will affect each and every American in the coming years.” The five and a half page paper has some similarities to the video that Icahn is releasing on www.carlicahn.com, but focuses more on imbalances in our society. The paper was sent to Trump before the GOP presidential candidate revealed his economic proposals. “I sent it to a number of people,” Icahn said. “A few of the ideas in the paper are reflected in Donald Trump’s plan. I think that shows what an open-minded guy he is, which is what we need in the White House.”
In the paper, Icahn takes a decidedly egalitarian tone, writing:
“The average worker makes approximately $50,000 per year. The average annual compensation of the thirty highest paid CEOs is approximately $47 million per year. (I don’t believe this disparity was ever this great even in most dictatorships!) You will hear many politicians argue that government should not interfere with the ‘business judgment’, of our companies and, therefore they cannot pass laws to encourage ‘income equality.’ This is completely untrue – the sad fact is that the government has actually passed many laws that have brought about ‘income inequality.’”
In a phone interview with Yahoo Finance Icahn says, "In this country, you talk about the wealth gap and politicians say, 'well, you can't legislate equality,' but we legislate inequality.”
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Of all the corporate raiders and junk bond kings that came of age in the 1980s, Carl Icahn has become the richest and most powerful. He shows little sign of slowing down. Now 79, and with a net worth of some $21 billion according to Forbes, Icahn has moved beyond being a fixture of CNBC and the business pages to being something of a general news subject. With unusual tentativeness and nuance Icahn has linked himself to Donald Trump thereby guaranteeing him a place at the grown-ups' table this news cycle. In the recent phone interview with Yahoo Finance, Icahn says that while he admires Trump, (the two worked with each other in the maw of the Atlantic City casino business) the two don’t see eye to eye on everything. Icahn wouldn’t comment specifically on where they disagree. As for being Trump’s Treasury Secretary, Icahn apparently said he would and then retracted that point. “He’s his own man,” Icahn says of Trump.
In the policy paper, Icahn writes about the complicity of CEOs and Wall Street:
“…the American worker is also getting 'screwed' …boards and CEOS have allowed property, plants and equipment of our companies to become the oldest on record and, as a result, the growth rate in productivity per hour of our workers has also become the worst on record and has actually decreased compared to last year. The average age of corporate property, plants and equipment is an astounding 22.3 years, the oldest it has reached since 1941. But I do not believe that most boards and CEOs really give a damn. With many exceptions, CEOs only care about short term results. Perhaps you can’t really blame them because unfortunately, Wall Street judges them based on quarter to quarter results and CEOs receive their egregious compensation based on those short-term results.”
Icahn also writes about CEOs and how hard it is to remove them: “How would we feel if laws were passed that certain criteria had to be met to vote for President and there were no term limits on the President’s ability to serve, thus making it almost impossible to remove Obama? Amazingly, there are many state laws in existence that protect the CEOs that are analogous to the example I just made."
Icahn slams using junk bonds for doing deals, comparing it to drug addiction, writing, “Making acquisitions with junk bonds may increase earnings for the short-term, but this gives companies a short-term high, just as heroin does to their users.”
Icahn closes his piece by again coming back to the plight of the common man versus CEOs: “When it comes time to pay the Piper, CEOs will have taken their bonuses and again the workers will be left, holding the proverbially ‘empty bag.’”
mnholdem Avatar mnholdem
Sep 18, 2015 at 5:34am
afrizzle, Kastanes and 1 more like this. Quote
I noticed that Sanofi has added the following Resources link to the AfrezzaPro website:
"Find out about VaxServe, a Sanofi Pasteur company, provider of in-office spirometry solutions."
...which takes the reader to this page:
...where products can be accessed. VaxServe sells spirometers manufactured by MicroDirect, Midmark, ndd, Schiller, SDI Diagnostics, and Welch Allyn. All products also include a reimbursement code.
Apparently, Sanofi was not to keen about Al Mann's remarks that he had found a low-cost spirometer for endocrinologists to meet the FEV1 testing required prior to prescribing Afrezza and have chosen to promote the spirometry equipment of one of their own companies.
Not surprising from this French company.
U.S. News Best Hospitals Honor Roll
U.S. News & World Report ranked Mayo Clinic in Rochester, Minn. among the best hospitals in the nation in their 2015-2016 rankings. Mayo Clinic has ranked at or near the top of "Honor Roll" hospitals through the history of U.S. News and World Report's best-hospital rankings. Mayo Clinic has more number one rankings than any other hospital in the nation with No. 1 rankings in eight specialties: diabetes and endocrinology, gastroenterology & GI surgery, geriatrics, gynecology, nephrology, neurology & neurosurgery, pulmonology and urology. Mayo is ranked No. 2 in three additional specialties — cardiology and heart surgery, ear, nose & throat, and orthopedics and No. 3 in cancer. All specialties at Mayo Clinic work together to provide whole-person care for each patient, every day.
U.S. News Best Children's Hospitals
Mayo Clinic Children's Center is rated in all US News & World Report pediatric specialty categories and is the only children’s hospital in the five-state region to rank in all 10 specialties.
Donald Trump blasted Martin Shkreli — the now infamous pharmaceutical CEO — on Wednesday for raising the price of a drug used by AIDS patients from $13.50 to $750 per pill.
While stumping in South Carolina, Trump said, "This young guy raised the price to a level that’s absolutely ridiculous, and he looks like a spoiled brat to me."
Read More Donald Trump Touts Stephen Colbert Ratings in Beef With Fox News
The GOP front-runner called Shkreli a "hedge-fund guy," and added, "I thought it was a disgusting thing, what he did. I thought it was a disgrace."
The reporter who asked Trump's opinion on ShkreliI interjected and said that there are many drugs with prices too steep for the people in need.
"I know, it’s terrible, but in particular, there’s something about that one, the way he raised it and to that extent and then he sat back smug like he was hot stuff," Trump said. "That guy is nothing. He's zero. He's nothing. He ought to be ashamed of himself."
The former Apprentice host said he believes public outcry would make a difference.
"I think probably at some point the public is going to get him to reduce it somewhat, but I think what he did was a disgrace," Trump said. "I thought it was a disgrace."
Read Trump's full statement below:
"This young guy raised the price to a level that’s absolutely ridiculous, and he looks like a spoiled brat to me. You want to know the truth? He looks like a spoiled brat. And he's a hedge-fund guy, who, as you know, the only one that I'm raising taxes on. They are going to be paying up. But I thought it was a disgusting thing, what he did. I thought it was a disgrace. I know, it’s terrible, but in particular, there’s something about that one, the way he raised it and to that extent and then he sat back smug like he was hot stuff. That guy is nothing. He's zero. He's nothing. He ought to be ashamed of himself. And I think probably, at some point, the public is going to get him to reduce it somewhat, but I think what he did was a disgrace ... I thought it was a disgrace."
I couldn't agree more w/ Kevin as Mnkd doesn't have enough funding to develop TS pipeline alone. A Buy In or Buy Out would happen in the next 6 mos. Simple Logic! Why is it hard for many to understand. This is beyond me. Al's asking price was too high. With enough beatings, torture by the cartel and Tourbillon, Al may eventually succumb to the reality by lowering the price unless he becomes so fed up that he takes the co. Private w/ a LBO with hedge funds like BR, Carl. Al knows he can't be intransigent too long as he losing leverage w/ lower Mnkd balance sheet.
21 September 2015
Procedure Management and Committees Support Division
Committee for medicinal products for human use (CHMP)
Draft agenda for the meeting on 21-24 September 2015
Chair: Tomas Salmonson – Vice-Chair: Pierre Demolis 21 September 2015, 13:00 – 19:30, room 3A
22 September 2015, 08:30 – 19:30, room 3A
23 September 2015, 08:30 – 19:30, room 3A
24 September 2015, 08:30 – 16:00, room 3A
Afrezza Lowers HbA1C in Uncontrolled Type 2 Diabetes
Published Online: Monday, August 31, 2015
Adding Afrezza insulin inhalation powder to oral diabetes medications significantly reduces HbA1C in adults with poorly controlled type 2 diabetes.
To arrive at this conclusion, researchers recently examined more than 350 adults with type 2 diabetes and HbA1C levels between 7.5% and 10% who were taking metformin alone or at least 2 oral antidiabetes agents.
As an add-on to their oral regimen for 24 weeks, roughly half of the patients were randomly assigned to receive Afrezza, a prandial Technosphere inhaled insulin approved by the Food and Drug Administration (FDA) in June 2014 and launched by Sanofi and MannKind Corp in February 2015, while the remaining participants received prandial Technosphere inhaled placebo for the same time period.
Afrezza doses were titrated weekly based on glucose levels for the first 12 weeks to target 90-minute postprandial glucose levels of 110 mg/dL to 160 mg/dL. The participants could take a supplemental dose if their 90-minute postprandial glucose level was at least 180 mg/dL. For the remaining 12 weeks of the study, the researchers only adjusted doses for safety concerns.
The study results showed that Afrezza treatment reduced HbA1C by 0.8% from 8.3% at baseline, compared with the placebo’s 0.4% decrease in HbA1C from baseline. Significantly more inhaled insulin participants also achieved an HbA1C of less than or equal 7% than the placebo group.
As for changes in weight, the inhaled insulin group gained an average of 0.5 kg, while the placebo group lost an average of 1.1 kg.
Both participant groups experienced respiratory adverse events, the most common of which was a mild, dry cough (23.7% in the insulin group and 19.9% in the placebo group) that caused 1.1% of the insulin group and 3.4% of the placebo group to discontinue treatment in the study.
This treatment discontinuation resolved the slightly larger decline in forced expiratory volume in 1s that was seen in the Afrezza group compared with the placebo participants.
- See more at: pharmacytimesDOTcom/news/afrezza-lowers-hba1c-in-uncontrolled-type-2-diabetes#sthash.iH1dBypu.TzYZ5T8R.dpuf
Dry powder inhalable compositions and methods for using and making the compositions are disclosed for vaccinating a subject against disease. In particular, the compositions are inhalable dry powders useful for preventing and/or treating diseases caused by microorganisms, for example, microorganisms such as viral or bacterial pathogens, including, the influenza virus. In particular, the method comprises the administration of an inhalable composition comprising virus-like particles and/or specific protein/s or antigenic peptides, peptide fragments and/or derivatives thereof using a dry powder drug delivery system.
Information currently unavailable.
Mannkind Corp Technovax Inc
Smutney Chad C Leone-Bay Andrea Galarza Jose M Munoz Hector Martin George R Grant Marshall L
A61K2039/544 A61K2039/55555 A61K39/07 A61K39/12 A61K39/145 A61K9/0075 C12N2760/16134
A61K39/12 A61K39/145 A61K9/00 A61P31/16
Sep 2, 2015 EP_2911690_A1
Oct 25, 2013 EP_13786858_A
Oct 25, 2013 US_2013_0066969_W
Oct 26, 2012 US_201261719308_P
4,450,300 share Block Buy at $3.46 @ 3:59 P EST on 9/18 According to Yahoo interactive chart. It must be MF, Institution Buy, BofA, or Sanofi Buy-In?
Break Through 2.0 in MGM Grand We'd 9/16 9-12 AM: Train the Trainers (Endos, Speakers' Bureau)
Sanofi Breakthrough 2.0 - MGM Las Vegas
I spoke to Matt last week, and he confirmed that SNY was having training in Vegas this week. He is currently in Europe at the EASD. Will be back on the 25th. It is my understanding that the SNY reps that call on GP's will be having their own training soon. I believe that David Kliff was spreading FUD claiming that 2/3 of the reps that were training this week were being asked not to attend. SNY made a decision to have the GP reps, the 2/3 in question (700) have training at their own meeting, since they already had a meeting coming up.
Matt will attend 9/22 JAC in Paris, where the World Launch Plan will be presented. Matt will be back on 9/25 after Note conversion completes 9/24. Some asks as CFO he should focus on the conversion. Yes, he focuses on it by being where the source of money is.
Some asked a valid Q: "Shouldnt he be working on the debt resolution ? EASD would be more appropriate for clinical side management may be the CMO?".
Matt is in Europe primarily for JAC 9/22 and "working on the debt resolution".... (Left to your interpretation) EASD is just a side observation job.
Brian Lynch @nccapitalist
My endocrinologist writes Afrezza scripts for over 30 patients. He is an Afrezza believer. Why would he be the exception and not the rule?
6:57 AM - 12 Sep 2015
Dr. Alan Marcus, a diabetes doctor in Laguna Hills, said he has followed the drug's development for more than a decade.
In three months, he's already prescribed the drug to about 30 patients. "They love it," he said. "It allows them to control their glucose ... in a manner that doesn't stigmatize. If you're out at a restaurant, the last thing you want to do is go to the bathroom for an injection or stick a needle through your clothing."
But unless something is done to make it easier to get the drug into patients' hands, doctors will probably be reluctant to prescribe it, Marcus said.
"It's not an easy prescription," he said. "They have to go through testing. Then you have to take a moment to demonstrate it. Then you have to deal with the insurance companies. Then you have to deal with the pharmacists, because most of the pharmacies don't have it in stock. This is a process that takes a lot of time, it takes a lot of effort."
Quoted from MannKind's inhaled insulin drug proves hard for diabetics to get (Published on 3 June 2015 on latimesDOTcom).
Sanofi Breakthrough 2.0 - MGM Las Vegas
I spoke to Matt last week (Wed 9/16/15), and he confirmed that SNY was having training in Vegas this week. He is currently in Europe at the EASD. Will be back on the 25th. It is my understanding that the SNY reps that call on GP's will be having their own training soon. I believe that David Kliff was spreading FUD claiming that 2/3 of the reps that were training this week were being asked not to attend. SNY made a decision to have the GP reps, the 2/3 in question (700) have training at their own meeting, since they already had a meeting coming up.
Matt will attend 9/22 JAC in Paris.
New Study Shows Type 2 Diabetes Linked to Daytime Napping
Siesta after lunch of a Spanish villager ENLARGE
Siesta after lunch of a Spanish villager Photo: Getty Images
Sept. 17, 2015 12:07 p.m. ET
A review of past studies has shown that daytime drowsiness and taking long naps during the day is associated with an increased risk of developing Type 2 diabetes.
Researchers at the University of Tokyo have reviewed 10 studies including a total of more than 260,000 individuals, looking for links between daytime sleepiness or napping and the risk of Type 2 diabetes.
The doctors found that those who felt very sleepy during the day had a 56% higher risk of being diabetic than those who didn’t, while those who took naps of 60 minutes or more had a 46% higher risk of having the condition than those who took no or smaller naps.
The study, presented at the European Association for the Study of Diabetes conference in Stockholm on Friday, shows an association between the two conditions but doesn’t prove cause and effect. Still, researchers say their findings suggest excessive sleepiness and long napping during the day may be a warning signal of Type 2 diabetes.
People who experience these conditions should see a doctor to have their symptoms evaluated, said Dr. Tomohide Yamada, a researcher at the department of diabetes and metabolic diseases at the University of Tokyo in Japan.
The analysis showed there was no adverse link between short naps of about 40 minutes a day and Type 2 diabetes. Previous studies have found beneficial health effects of taking naps of 30 minutes or less a day including increased alertness and improved motor skills.
Diabetes is a condition where the body is unable to effectively break down blood sugar. It affects 387 million people world-wide and can lead to heart disease, kidney failure, blindness and death. Type 2 diabetes is the most common form and happens when the body becomes desensitized to insulin, a naturally occurring hormone that metabolizes sugar.
Authors of the study said excessive sleepiness or daytime napping could have several explanations, including nighttime sleep disturbances such as obstructive sleep apnea, a disorder with one or more pauses in breathing or shallow breaths while sleeping. People suffering from major depression are also more likely to experience bouts of sleepiness or excessive naps. Previous studies have linked both sleep apnea and depression with increased risk of diabetes.
Dr. Yamada also noted the possibility of reverse causality, meaning people who are already suffering from bad health may be more inclined to feel sleepy or take longer daytime naps.