Cohen and his cronies ... well, one day lets hope they receive some of the same medicine they dispense is all I have to say on the subject.
Hey Jacosa, recall your valuable posts on the ITMN Message Board, really enjoy your input. ITMN was a good one.
I took a position here a couple of days ago with an avg cost of $73 (bought the knife as it dropped). Have always liked INCYTE, just thought the valuation was a little rich until now with the way this ridiculous market is acting.
Best of Luck ... I see you have been in this name for a long while.
In this crazy market have also picked up CEMP, ALKS, DVAX, VRTX, and ACAD. Probably a little over exposed to bio right now, ha ha (ouch).
Mr Market is behaving very irrationally these days ... 5461 failure should not have taken off $5B market cap.
Odds are ALKS will be trading much higher in 6-9 months once market comes to its senses. Vivi is where the growth is going to come from.
crazy ... and i have been speculating GILD management should be maneuvering to take GILD private at $125
so Fluteman, what do you think now ? huge day for those of us with large long positions. i scaled out of a major chunk at 110.90. As they say in the trenches bulls make money, bears make money, pigs get slaughtered
Feb. 20, 2015 2:27 p.m. ET
A bankruptcy judge Friday approved the sale of the assets of Dendreon Corp., a troubled cancer drug maker, to Valeant Pharmaceuticals International Inc. for $495 million.
The sale underwent significant modifications as recently as Thursday night, adding an extra $95 million to the purchase price.
In addition to Dendreon’s flagship drug, Provenge, the deal now also includes $80 million in cash held by Dendreon as well as another product known as D-3263.
“Our judgment is that this is the better alternative,” Kenneth Ziman, a lawyer for Dendreon, said during a hearing Friday. “These changes all are for the better.”
Valeant has also offered to hire the company’s employees and take over the supply contracts for the acquired business, a component of the offer that stabilizes Dendreon’s operations.
A string of objections to the sale were all resolved consensually, some just hours before Friday’s hearing began. Unsecured creditors also threw their weight behind the revised deal.
“There is no question that a sale should be approved,” Judge Laurie Silverstein of the U.S. Bankruptcy Court in Wilmington, Del., said as she made her ruling Friday.
The sale is scheduled to close on Monday, and Mr. Ziman said he expects the company to exit Chapter 11 protection as soon as June.
Originally, Valeant offered $296 million for Dendreon assets, including Provenge. That offer was increased to $400 million when Valeant was approved to serve as the stalking horse, or lead bidder, at a bankruptcy auction that was ultimately canceled when no rival bidders emerged to challenge Valeant.
Fluteman, you left out a couple of pretty important facts .... like Stock price cut 2/3, Salix acquisition becoming more and more accretive to earnings. VRX, even after this fiasco, will generate in excess of $4 Billion in cash flow to pay down debt. imagine 2 years out, with net Debt at $20 B and $5 Billion cash flow ? Where do you think the stock price will trade ? I have a pretty good idea.
the net net here is that any pullback will be short lived ... of course, this is just my humble opinion.