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No question you make a good point. And, I think Jess in his post right after yours explained the situation well. To me the key was/is that PG overplayed his hand and was looking for too much in a deal.
People seem to forget or not mention what happened almost 2 years ago. Schulman wrote a release announcing the BO, but something happened to nix the deal and he of course got canned. Not being in on the negotiations no one (other than PG and some others) knows exactly what happened, but to use PG's own words, read between the lines. He played hardball and struck out. Now, if a deal happens it won't anywhere near what everyone was expecting back then.
You are right. It is just ego.
With all due respect, it is my opinion that there is a difference between "survive" and "thrive".
Cash has dropped by 10% over the last 6 months. So, as Aurinia stated in the release, the company has enough funds to continue for "several years", but ultimately one day, there will be more dilution. This was once touted as a billion dollar drug. Never happen under GIA. OH, and you are correct that PG doesn't want to sell and to continue GIA. He won't have that opportunity for more than a year.
Not to disagree, but there were posters here laughing at $30 and proclaiming it would be at least double that.
Unfortunately after these “great” earnings, and the premarket bump, we are still $2 below where the stock was 5 trading days ago.
PD, I had wanted to ask you about that Pharmacy Letter you posted on ST the other day.
In it it mentions the cost of Vascepa - $320 if I recollect. Where is that letter written and hasn’t that province issued a reimbursement decision? I was thinking Ontario.
Yep, I am wondering if the FDC would do the trick in extending exclusivity in the EU.
Well stated Ramfam, although I think the exclusivity in the EU is now less than 10 years, but I could be wrong and appreciate anyone who will correct me.
Well, as insomniyak stated, if the strategic review comes up empty, the company will dump PG. So there is that.
Hope I don't jinx it, but not doing too shabby today as I see a lot of small cos and bios getting smacked around this morning.
Thanks for posting GG. Interesting how they lost a lot less money on vastly decreased revenues this quarter compared to a year ago.
That was always important to me in business - bottom line.
Thanks for the heads up. I have a question for Pharmacydude concerning that Pharmacy Letter if anyone knows how to reach him.
The question is: What province is that letter written as it states the cost of Vascepa is about $320. I would have thought it be written in Ontario and haven’t they already agreed to reimbursement so the cost should be drastically less. Seems like old information in that Pharmacy Letter even though the date of it is current.
Interesting that Roche thinks sales going from 1 billion to 820 million can be described as eviscerated.
What does that make Generics' impact on Amarin then?
You are probably correct. What an ugly close.
As long as it isn't bad news. Something positive on that storyline could break this stock out of this back and forth and focus the market on the hoped for upcoming sale.
Nothing like setting a new 52 week high and then dropping over 13% over the next 2 days. On the one hand, many other bios have been hit at the same time, but hopefully this is not related to a leak of bad news coming in upcoming earnings CC (not concerning earnings but in regards to the search for a buyer).
No problem Kiwi. I forgot to add, that I would not be the best to ask, as I live about 140 miles east from Tampa on the other side of the state. We go to the West coast from time to time either for a hockey game, football game, or for R&R on a beach on the Gulf, so don't bum around Tampa neighborhoods much.
Hi Kiwi. A lot would depend on his/her preferences and age. First question would be since you said part of the year, is whether they want to own or rent (since many snowbirds who come for months in the winter rent). If they are young, working, etc., they would probably like some areas like Downtown Tampa or Bayshore Beautiful. Assuming they are older and since only part of the year, not working, then Hyde Park area is nice and next choices would be Westshore or Riverside Heights.
Now if they are looking to be closer to the Gulf of Mexico, where they could walk a block or 5 to the beach, then west of Tampa, across the Bay, there is a long strand that runs from Tarpon Springs at the north end and runs through Dunedin, Clearwater Beach, Belleaire, Madeira Beach down to St. Pete Beach.
I figured it was something like that Zip.
I don't have direct personal information, but from what I gather there are probably discounts off the base price. Not something the patient end user sees, but rather the insurance company or PBM.
I mean it seems to make sense, since scripts are the same basically but revenue down so to me there is only one explanation.
I haven't been convinced that nothing was going on when Schulman (?) wrote that press release stating a behemoth was buying Auphie. Who or what nixed that whole thing is a mystery. But again, the old saying about where the buck stops lays the responsibility at PG's feet. GIA is not going to achieve what we are here for.
I am guessing the reference is to Evelyn de Rothschild who at 91 died in November of last year.
I know I will get laughed at, pilloried, ridiculed and all that jazz for what I am about to say, but it just keeps gnawing at me. I know, water under the bridge, end of story, on and on.
I can't help it, but I have this overriding desire to have 5 minutes in a room alone with Du. So many questions run through my head.
Does she know what has happened? I know she warned the Generics about infringing on R-I patents, but she is aware of the situation, does she justify this in her head as not really being the Generics fault, but rather our drug delivery system (PBM, insurers, pharmacies, prescribers, state laws)?
Bolio, I would think the drop is primarily or entirely related to the aggressive discounting Amarin has had to employ to retain this steady market share.
Any thing that hints that the search for a buyer is coming up empty, will definitely tank the stock.
I am hoping for news as well because earnings won’t have a big impact.
Raggy, I was in PLTR way too early - back in 2021 and just got out without losing my shirt. Another one that has not done well (but might be waking up) is BCRX. I believe you were or are in that stock as well.
I think you are right about that. Although it is not far off from that level now, it still has been very stagnant for 6 months.
Of course so has V + GV. Its high right around the same time.
Again it goes to show you that the vast majority of BOs occur around ( either before or after phase III trials) and our management missed their opportunity in 2018.
I was asking and looking for a new 52 week high a week or two ago. I was a little early I guess. Better late than never.
Buckle up. Hopefully we hear something soon.
The only place that we are selling in the tens of millions is here in the States, but the margins are such that we make very, very little on those sales.
Not to mention that BP would get sales to 1B a lot faster.
Zip, I know I would laughed at and ridiculed for saying this, but I can’t help constantly thinking about having 5 minutes in a room with judge Du. Does she know what has happened?
MrMain, you think it was late. What time was it in Spain - 9pm?
I used to think that the side effect you got from taking V would give the stock price a Lift.
Thanks Capt. A little confusing though, as Avila states that reimbursement is still under negotiation.
From Amarin's PR:
"Positive recommendation marks the final step in the reimbursement process in Spain following months of active negotiations between the Spanish Ministry of Health, the regional authorities and Amarin --
-- Amarin expects eligible cardiovascular patients to be able to access VAZKEPA under national reimbursement as of September 1, 2023 --
Does anyone see a price for reimbursement? Germany should be ashamed.
Move down one country. Si.
Assume this is no reason to lie, Raf apparently got a reply from Amarin IR, while not explaining the reason for the Mitigate termination, said that it was not related to safety, efficacy or quality concerns.
"investor.relations@amarincorp.com
to Me & 1 more
Today, 1:37 PM
1h MITIGATE was an Investigator Initiated Trial conducted at Kaiser Permanente Northern California that studied
Amarin's product VASCEPA/VAZKEPA (icosapent ethyl). Investigator Initiated Trials, or ITs, are run by the
investigators who initiate them. Recently Amarin was notified by Kaiser Permanente that the trial had been terminated prior to analysis of the study data. The study was not terminated or stopped due to any safety, efficacy or quality concerns
related to VASCEPA/VAZKEPA (icosapent ethyl). Amarin will have no further comment on the MITIGATE study or the circumstances surrounding the study's
termination.
Thank you,
Amarin IR"
Further I noticed that today (I believe) Raf was posting on ST that "Mitigate was stolen" from us and that he believes it was fraud. Not really sure I understand exactly what he is implying. If anyone can elucidate, it would be appreciated.