Biotech Values

[jbog]

Dew,

Do you have an updated opinion on PTHN?

I'm still very excited about Patheon's future. I bought right after the IPO and saw the stock increase around 20% to $30. That move was too fast and it sold off but has now recovered somewhat.

They announced another deal last week where they bought Roche's Florence SC facility for an immaterial amount. With that deal they also entered into a contract to supply Roche with the API products that were produced at Florence. (immaterial is probably $1).

Their last earnings report (and 1st reported) was dismal in my view. Their sales were very nice (SB $2Bil annual) but earnings were no where what I expected. I'm guessing that their were many one time items listed that should disappear over time.

They used all their proceeds from the IPO to extinguish their debt so that'll help the PL statement.

I deal with them and can attest they are a first class operation and I don't see any downside to speak of.