Welcome back pharm. Sorry to see that your personal info was thrown out on the Citron page. Got in late last night and was surprised ...... mainly surprised that this was the big follow up to their part 1 , pretty low stuff.
Anyway, GL and keep slugging for the fences.
Oh I'm sure you could pull out a small tidbit where she (or someone else) mentions that she 'fast track' investigation. Simple.
You've become Mikes mouthpiece. I'm sure you can spit it out all by yourself. Oh wait, I guess Mike dictates what you can post and what you can't.
You are the MikeSheeple. Enjoy.
'Mikey sent me the notes weeks ago.'
You can provide the actual notes to back up your statement . I'm sure 'Mike' would allow you to do that.
Requested fast track in August 2013 for Acthar ? Really, that would be quite a shock.
'Which to believe? Decisions, decisions.'
I'm sure you can provide the actual notes to back up your statement Mike. Would not blindly believe without being able to verify. That would be what you call being a 'sheeple'.
She requested it be fast tracked ? No.
'But when provided with the right information on drug prices, especially in smaller markets, doctors can be alerted of big price increases, potentially spurring generic alternatives to expensive drugs and giving the centers for Medicare and Medicaid the tools and information to better track pricing in this market. To start looking at this information, I am in the process of working with the GAO to look into the issue of drug pricing and these enormous increases. Finally, I intend to investigate whether the FDA can fast track approval for generic drugs that would be just as safe and effective but much less expensive, creating competition in markets with dramatic price increases.'
'Finally, I intend to investigate whether the FDA can fast track approval for generic drugs that would be just as safe and effective but much less expensive, creating competition in markets with dramatic price increases.'
'...I am only worthy of your negativity because obviously you were able to click on my alias link and post what any nit-wit with a 6-year old reading comprehenshion could make about to be 3 posts. '
Lol, well you kind of failed the click and comprehend war against Patty. Patty has well over 7000 posts .
Patty is a great stock picker and has a very good track record for calling levels/numbers/price.
It's okay Mike. We understand .
Seems not to want to post the link. AH will close @ 5 today. You can confirm by visiting nasdqtraders
Agree. Only thing I found that's not directly related to Left (but reported in his article) is the listing of Questcor/Synacthen on The Capitol Forum site.
Note (and this indicates to me that there is an investigation) :
'Parallel Investigations: For each M&A transaction that we cover, we conduct an investigation that runs parallel to the corresponding antitrust investigation or policy development process.'
Not that I know of .
From The Capitol Forum:
Parallel Investigations: For each M&A transaction that we cover, we conduct an investigation that runs parallel to the corresponding antitrust investigation or policy development process. Our team of lawyers, together with over 50 years of antitrust and consumer protection investigative experience, provides us with an edge in both our expertise and methodology.
Recent coverage areas include:
•Office Depot/Office Max
Spelled it out in detail and included The Capitol Forum. As stated, this lawyer is high up in M&A deals unrelated to pharma. ... hence he stated 'not an expert in that area'.
Emailed a close friend who is a partner in a M & A law firm in NYC (unrelated to pharma) . Asked if he thought this had any teeth/legs to it . Reply below:
I am not an expert in that area but I believe the FTC has pretty strong powers. I would imagine they wouldn’t bother looking into it if they couldn’t do anything about it. In antitrust related matters, I believe the FTC has the power to unwind a transaction if they feel it violates antitrust rules.
Copied most of the first page of the CF report. Those wanting the last few paragraph, go to Twitter
Multiple sources have confirmed to The Capitol Forum that the FTC has launched a nonpublic investigation into Questcor's acquisition of the U.S. rights to Synacthen. Unlike previous investigations into non-reportable pharmaceutical transactions , which have taken two years or longer , we believe that the FTC investigation will move according to an accelerated timeline. As a result, an FTC decision, either to close its investigation or move to unwind the deal , could come within months, not years. Key points for shareholders to consider include:
Investigation . Multiple sources have confirmed that the FTC has initiated an investigation into Questcor's acquisition of the U.S. rights to Synacthen.
Political pressure. On August 1, Senator Amy Klobuchar, chair of the Senate's antitrust subcommittee , sent a letter to FTC chairwoman Edith Ramirez encouraging the Commission to investigate the deal.
Timing. Given political pressure, public/investor interest , and concern about the effects of a delay of Synacthen's entry into the U.S. market , the timeline of the FTC's investigation may be months, not years.
I did not say that I don't believe in capitalism. I do believe in fair pricing especially when it comes to necessities vs luxuries (food, shelter, medical care & drugs needed to treat diseases.)
If I ever said it might go to 13 it would have been on a day QCOR was getting hit by either Streetsweeper or Citron. I don't do price predictions unless I am curious about where the bottom might be (and I am sure I phrased it that way). I don't do top numbers. There are always enough posters going through those scenarios .
True, it wasn't just like that. It happened after a change in management (Bailey came on board ). Yes, it was QSC but , had I used that handle, some would have not known it was the former call for QCOR . We all got good share prices way back when.
'The drug, and its relationship with this company, have an interesting history. Acthar is not a new drug - it was first synthesized way back in the 1940's from pig pituitary glands. Eventually the drug was owned by Aventis, which nearly discontinued production in the mid-1990's due to poor sales. However, pediatricians objected, as there were few choices for treating IS, and Acthar was (and still is) the first option for treatment. Questcor acquired the rights to Acthar in 2001. With such low volumes and a low price, Acthar did not provide many benefits to Questcor. The company continued to be unprofitable.
In 2007, new management decided to change the direction of the company and focus solely on Acthar. Other pharmaceutical interests were divested. Management implemented a massive 14x increase in the price of Acthar, from $1,650 a vial to over $23,000 a vial in mid-2007. Immediately, Questcor's fortunes did a 180 degree turn. Revenues are up 900% since then. Operating margins today are a sky-high 50%. Free cash flow margins are right around the same levels. The balance sheet is squeaky clean, with $73 million in cash and no debt. Management is aggressively buying back shares. '
With all due respect, I strongly disagree. R & D occurred long ago. This isn't the 'new kid on the block' type drug. For crying out loud, there have been numerous R & D platforms for Acthar.
Let me tell you I bought QCOR way back when most of you did not know that this company existed. I do most research via patents and clinical trials. Heck, it was sub dollar when I threw money its way.
Now, if you don't think I did footwork looking at the drug pre QCOR snapping it up .... fine. Point is , there is loads of data showing that once QCOR did snap up Acthar they smacked the price up. Issue for me ? You bet. Take a drug needed by a very small population and, in the name of capitalism , smack the price to the moon (cause we can get insurance companies to cover it, right ?) and I do have an issue with that.
Price in line ? No way. I have always felt that the upper management could not care less about 'fair ' pricing. Bottom line is the only aspect they care about. Free Acthar program for those needing it ends up being priced in to those who can pay or who have insurance to cover the cost.
Come on. This is simple accounting.
There are no 'free' programs.
Logical assessment. Here's the rub. Logic concerning the stock market never works. How many stocks have you held where good or bad news has the opposite effect on that security ?
Not to be negative, but I am ever cautious when it comes to the realm of stock investing.
Considering that there have been several agencies screaming about the pricing of said drugs by many companies over several years (price gouging) .... I am watching this closely. I have stated in the past my concerns (and disappointment) in QCOR for this very practice. This drug is not as expensive to manufacture as they would like you to think. Fast forward to the purchase of the manufacturer , combined with a lack of reduction in the cost of Acthar, and you've got a tangled web.
Like I said, you won't know what they know until it blindsides you.
Me, I take money off the table all the way up the plank. I've made plenty on QCOR but , ethically , I certainly have had and will continue to have issues with what I know is simple price gouging at its finest.
That's not rocket science, it's common sense.
Looking over old rules prior to the amendments which will take me a while to wade through. I don't think anyone can predict with certainty where this entire saga is going.
You know me. I am a cautious investor and keep my mind open to every scenario possible. I deal strictly in all cash which keeps me hopping. I learned long ago that you can't know it all in life but you damn well better be keeping your eyes open for the next shoe to drop.
No matter how you dice it, no one ever knows the full story until they want you to know.
I'm holding here but I'm not blind.