I agree. Seen this soooo many times it is comical. These guys should be locked away in a Saudi jail.
Anyone know why they hit cost of sales with this? I'm not an accountant but it seems that they should have debited contingent liabilities until such time that they actually had to pay MRK and THEN hit cost of sales.
OK, you got me on a technicality. The jury ruled no royalties through the end of 2015. The judge takes it from there. But the precedent is now set for a lot lower compensation than the 10% originally proposed. Besides, in June when the pan-genotype Velpatasvir is approved, this will significantly reduce royalties as this new compound should eventually replace SOF. Big win for Gilead in my view.
And now we hear that they are going to continue to work past the original 3/4 deadline. Also, I understand that the dog catcher is opposed to the deal. And so it goes.
Interesting action today with EXC up and POM down. It would appear that bets are being made against this deal getting approved. Also, it is interesting that EXC would hire Dan Eggers as head of investor relations the day prior to the original deal expiration date. Dan has been bullish on EXC at Credit Suisse for over a year now.
I am an EXC holder not POM. I see EXC is up nicely today so I am a happy fool. I hope they deep six it. This whole deal does not pass the smell test.
OK, so then get all these people in a room and make a decision for heaven's sake! Two small rate adjustments, or one big one, or none. Just decide! You don't need 2 years to figure this out!
We all know that It is the federal government that is the largest DC customer here and they are the ones against this proposal because they don't want to "subsidize" the average ratepayer. But yet they chose not to participate in the hearings after the first decision was rejected. Like I said, none of this is rational. But I am glad to hear that you are so enlightened.
...and why did they not halt trading on Friday prior to the announcement? None of this resembles rational behavior.
Look, DC residents are being handed a gift. It is the politicians that are playing games. And we all wonder why Donald Trump is surging. Bottomfisher has a point. There is something "fishy" going on here. Why would the DC commission role back the provision to limit rate increases until 2019 unless they were in someone's pocket? An investigation is totally warranted in this case.
But the original agreement with the DC mayor and counsel stipulated no rate increases until 2019. Why would the commission take this out? Makes no sense to me unless they see it as a way to line their pockets or have an axe to grind with the mayor. What am I missing? Can someone more enlightened than myself explain?