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I haven't spoken to Sam for quite a while. He never discussed a brother or even a cousin in the investment business. That wouldn't reflect on him though. He is a totally honest person in my opinion.
RIGL If you look at todays chart it looks like there may have been a leak
and I don't mean overactive bladder.
stock was down quite a bit on an up day
Perry hedge fund settles with SEC over Mylan stake
By Joseph A. Giannone
how did Perry settle for so little, he must have made a contribution to the Obama campaign
NEW YORK, July 21 (Reuters) - Hedge fund firm Perry Corp will pay $150,000 to settle accusations that it failed to report a substantial stake in Mylan Inc (MYL.O), purchased to support a proposed 2004 takeover of King Pharmaceuticals (KG.N), the U.S. Securities and Exchange Commission said on Tuesday.
The New York-based firm, led by Richard Perry and with $8.8 billion under management at the end of March, settled without admitting or denying the allegations.
Perry had argued that it was not required to immediately disclose the stake in Mylan, saying the shares were acquired in the "ordinary course of business."
The SEC strongly disagreed, saying the purchases were not an "ordinary course" activity and that Perry should have revealed within 10 days its Mylan stake had surpassed 5 percent.
Perry officials were not immediately available for comment on the settlement.
The SEC said Perry was sitting on a $20.4 million paper loss on its investment in King before the Mylan offer was announced in July 2004. The commission noted the Mylan deal represented a 61 percent premium to King's stock price and would help Perry profit from King shares it began buying in October 2001.
In September of 2004, Perry acquired 26.6 million shares, or 9.9 percent of Mylan's shares, to vote in favor of the Mylan-King merger and counter opposition from other shareholders.
At the same time, Perry hedged that exposure through swaps with Bear Stearns and Goldman Sachs (GS.N). As a result of these moves, Perry could vote alongside other Mylan shareholders yet had no net economic interest.
Accounting for Perry's costs and the interest it earned on its various positions, the SEC said Perry paid $5.8 million to acquire voting rights to almost ten percent of Mylan's shares.
As of Nov. 11, 2004, the day on which Perry held its largest King position, Perry stood to capture a $22 million gain on risk-arbitrage trades it had made since early September, the SEC alleged.
The merger plans were terminated in early 2005, with Mylan saying it
An economics professor at a local college made a statement that he had never failed a single student before,
but had once failed an entire class.
--------------------------------------------
That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK,
we will have an experiment in this class on Obama's plan".
All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A.
After the first test, the grades were averaged and everyone got a B.
The students who studied hard were upset and the students who studied little were happy.
As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.
The second test average was a D!
No one was happy.
When the 3rd test rolled around, the average was an F.
The scores never increased as bickering,
blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.
All failed, to their great surprise, and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great but when government takes all the reward away, no one will try or want to succeed.
Could not be any simpler than that.
Source EP Vantage
Company Elan, Biogen Idec, Johnson & Johnson
Date July 21, 2009
Elan admitted today that there is slightly more to its deal with Johnson & Johnson than previously announced. Essentially, the two companies have made sure that should the opportunity arise to buy Biogen Idec’s 50% share of multiple sclerosis drug Tysabri, and the purchase seems like a good idea at the time, the cash will be available to do so, courtesy of J&J.
Although this new development has significant potential, at the moment for Elan and J&J it changes very little. A change of control has to occur at Biogen Idec, triggering an option to buy Tysabri outright, before any such deal could kick in. For the US biotech, however, the sands have shifted. Previously, any bidder for Biogen could have been fairly confident that cash-strapped Elan would have chosen to retain the status quo over Tysabri or, for the right price, possibly even sell it. Because of this new arrangement, the Irish drug maker has more control over its future.
Well reasoned is not completely changing something for the top (government) down (american public). Most people are happy with their health options except for the cost. When most people are happy with something you don't change it completely but try to tinker with it and improve it.
If you run a business or work in a business and do you try to fix the problem by making incremental changes to it or do you shut the business down and start from scratch?
What the Dems are doing is criminal
go to Canada if you hate your present healthcare system
>Bruce Leicher, general counsel of Momenta Pharmaceuticals (MNTA.O) which makes both original and follow-on biologics, said his company supported a shorter exclusivity period.
He argued that a shorter exclusivity period would push biotechnology companies to move onto developing the next new drug, while the 12-year period would actually slow innovation<
few attorneys have ethics, they will take whichever side of an argument that they are being paid by.
What biotech company would pay hundreds of millions of dollars to pay for trials just to get five years exclusivity. If the innovator only gets five years exclusivity innovation would die.
>US approval in 4Q 2009 ??
I hope so ..
http://reports.finance.yahoo.com/w0?r=45713429:2
Developments Intelgenx announced that the FDA has finished its preliminary review and accepted Intelgenx’s NDA filing for CPI-300, a 450mg extended release Bupropion tablet. Impact Positive. Intelgenx is keeping to its timeline and we should see the tablet approved by Q4/09 and on the market by Q1/10. Comments The FDA has begun its full review of Intelgenx’s 450mg Bupropion tablet, which is excellent news for the company and maintains their timeline. <
Intelgenx is a good story but why do you have to post possible approval in 4q 2009? The pdufa is february 2010, that story is good enough, by posting the other stuff it diminishes the true story.
Shamefull waste of tax payers money
A bigger waste of money is for people, insurers or the government to pay 200 thousand a person for ALS patients to get Iplex
bnc.to
that is good news
I think the amlyn injection is taken 4 times a day at least
What is the difference regarding something else
so you can buy it now.
bnc.to I know this company very well and I like their products but their balance sheet is a mess and they are no where near approval with their bladder cancer drug.
why are you saying they are near approval. This is not a pump and dump board
two for the price of one; PML and brain cancer
ABSTRACT
Title: Primary central nervous system lymphoma in a patient treated with natalizumab
Abstract:
A 40 year-old man with relapsing-remitting multiple sclerosis (MS) developed primary central nervous system lymphoma (PCNSL) after having received 21 doses of natalizumab monotherapy. PCNSL is a disease of the elderly, with the majority of patients being diagnosed in the seventh to eighth decade of life. Immunodeficiency, iatrogenic immunosuppression and some autoimmune diseases are known as predisposing conditions, and in these patients PCNSL peaks in forth decade. Since there is no increased prevalence of PCNSL in MS and the patient was otherwise not immunocompromised, an association between natalizumab therapy and PCNSL cannot be ruled out. Ann Neurol 2009.
myrx has about 24 million shares
it is trading at about 4 with near 8 in cash and a nice pipeline
>i agree with the desperation deal and clearly the market agrees as well. THe stock was bought at a 30% premium by J & J, yet only closed up 10%. J &J practically added 1.5B to elan and gave it back some shred of credibility, yet the market cap only increased 300 million. Incredible! <
It was a desperation deal. But I believe you are all looking at it like ELAN sold too cheap out of desperation. I think it was a desperation deal but the received TOO MUCH.
I believe if ELN didn't make this deal they were on their way to zero and the billion and a half dineros keeps them in business earning nice salaries for many more years.
I was being sarcastic.
P and G terminated the trials and returned the drug. They stopped the trials in the middle so it wasn't because they weren't going well. The data was blinded
>ARYX – If you’re expecting that some third party is going to sub-license the program from PG, I think you’re dreaming. <
what the hell are you talking about?
You said if the program was worth anything p and g would have found someone else to take over the project instead of returning it. I said that it was probably in the contract that they had to return it if they weren't going to pursue it.
Rihanna trying out for the chipmunks.
happy fourth of July
>The latter: spin. If a product candidate has bona fide commercial potential, large companies such as PG generally find a way to get some value for it. <
So I guess you also read the contract between PRoctor and Gamble with ARYX and you know that if they terminated the trials it wouldn't revert back to ARYX automatically.
>So, Multaq is likely to compete and in time replace Amiodarone because of the safety advantages, imo. <
It would be approved for afib, Amiodarone isn't.
>Any comments on how SNY's Multaq, which was approved today for AF, stacks up against ARYX's AF compound?<
Multaq was in a trial with patients with heart failure, more people died on the drug than the placebo.
they next trial SNY did excluded heart failure patients so it met the endpoint.
this mean that Multaq will not be used in patients with hf, or at least shouldn't be used. I believe that is 60 percent of the market.
Aryx's drug had good data and I think 60 percent of the patients in the trial had hf. Not only that they asked the patients in the trial how they felt and the heart failure patient were able to breathe better on the drug.
I think it will be differentiated
Bapineuzumb
great deal for Elan, I wouldn't give 2 cents for Bap
thank you for this insight on CF
bpax cege
what they did was a financing with no warrants
sppi,,,, another raise. The ceo knows the Zevalin approval won't mean much so he is taking the cash from the investors that are throwing the money at him.
Spectrum Pharmaceuticals to Raise $21 Million from Institutional Investors at $7.1525 Per Share
Press Release
Source: Spectrum Pharmaceuticals, Inc.
On Tuesday June 30, 2009, 9:29 pm EDT
IRVINE, Calif.--(BUSINESS WIRE)--Spectrum Pharmaceuticals, Inc. (NasdaqGM: SPPI - News), a commercial-stage biotechnology company with a focus in oncology, today announced that it has received commitments from institutional investors to purchase $21 million of securities in a registered direct offering. Spectrum expects to receive net proceeds of approximately $20 million after deducting placement agent fees and other offering expenses. Under the terms of a Securities Purchase Agreement, Spectrum will sell an aggregate of 2,936,037 shares of its common stock and warrants to purchase up to 1,468,020 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase approximately one-half of a share of common stock, will be sold for a purchase price of $7.1525.
The warrants to purchase additional shares will be exercisable at an exercise price of $7.10 per share beginning six months after issuance and will expire 90 days from the date they are first exercisable. All of the securities were offered pursuant to an effective shelf registration statement. Proceeds from the transaction will be used for general corporate purposes. The offering is expected to be consummated no later than July 6, 2009, subject to customary closing conditions.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc., (Nasdaq: RODM - News), acted as the exclusive placement agent for the transaction.
A shelf registration statement relating to the shares of common stock and warrants issued in the offering (and the shares of common stock issuable upon exercise of the warrants) has been filed with the Securities and Exchange Commission (the “SEC”) and has been declared effective. A prospectus supplement relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from the Company by contacting Spectrum Pharmaceuticals, Inc., 157 Technology Drive, Irvine, California 92618. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of our shares of common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals is a commercial-stage biotechnology company with a focus in oncology. The Company’s strategy is comprised of acquiring and developing a broad and diverse pipeline of late-stage clinical and commercial products; establishing a commercial organization for its approved drugs; continuing to build a team with people who have demonstrated skills, passion, commitment and have a track record of success in its areas of focus; and, leveraging the expertise of partners around the world to assist it in the execution of its strategy. For more information, please visit our website at www.spectrumpharm.com.
Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, establishing a commercial organization for our approved drugs, continuing to build our team, leveraging the expertise of partners around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC. ® is a registered trademark of Spectrum, TURNING INSIGHTS INTO HOPE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
© 2009 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Contact:
Spectrum Pharmaceuticals, Inc.Russell SkibstedSr. Vice President & Chief Business Officer949-788-6700x234orPaul ArndtSenior Manager, Investor Relations949-788-6700x216
Whenever Elan's stock price goes down or there is a case of PML
another story comes out about the fact that they have suitors.
Rumors are easy to start, how do they continuously get the rumors on published but the press. IT is actually up today on the news that they have a 10th case of PML.
http://finance.yahoo.com/news/Novartis-in-talks-to-buy-much-rb-2259959705.html?x=0&.v=1
>This is an area of failure for the NIH, imo. They need to work in a mechanism where the government shares in the return on investment. <
I agree with you 100 percent on this point. People seem to forget that after the failure of Avastin in breast cancer it was the NIH that conducted the trials in Colorectal cancer.
Where would Genentech have been if the NIH would have given up on it also?
Executives at DNA benefited enormously, but the only US taxpayers that benefited were the ones with cancer that got to live an extra couple of months.
>"...or a loaf of bread is given you on the fool line."
Freudian or deliberate? Actually it doesn't matter, my conclusion is the same either way. <
Actually it was a typo but I had the chance to change it and I decided that it didn't matter
Government Healthcare
I am paying over $1700 a month for family healthcare coverage. I am the last person that should defend the current system. I don't pay this for co payments on my doctor bills. I pay this so that if someone in my family gets cancer or another terrible disease I can go to the doctor I want at the hospital that I want.
I could pay less but I won't have my freedom to choose my doctor.
Eventually under the Obama plan choice will disappear it may not happen right away but it would happen eventually. If I want that I would just get a cheaper plan now.
Obama's is all about equalization. But the equalization isn't to bring everyone up but to take everyone down. By spending on all these projects the dollar will become worthless so. Everyone will be in the same boat. What is the difference if it costs a million dollars to buy a loaf of bread,like germany after world war one, or a loaf of bread is given you on the fool line.
<Oddly, the write-ups by DeepCapture.com omit the minor detail that JNJ paid a billion dollars to acquire Cougar.>
Didn't you know that J and J is run by the mob
tspt. you are buying now for a 10/31 pdufa?
Read me now, if IPLEX didn't work in MMD, it certainly doesn't work in ALS.
but they are charging 200 thousand a patient.
pretty sick
osir...another "successful trial" which exhibited nothing.
when the primary endpoint is safety the trials are a success.
Osiris Therapeutics Reports Interim Data for COPD Stem Cell Study
Press Release
Source: Osiris Therapeutics, Inc.
On Tuesday June 23, 2009, 5:09 pm EDT
COLUMBIA, Md.--(BUSINESS WIRE)--Osiris Therapeutics, Inc. (NASDAQ:OSIR - News) today announced six-month interim data from a Phase II clinical trial evaluating Prochymal, the Company’s proprietary formulation of adult mesenchymal stem cells, for the treatment of chronic obstructive pulmonary disease (COPD). Sixty-two patients were enrolled and are being followed for two years in the placebo-controlled study. At the six-month time-point, the data revealed several important findings.
Important Findings:
•The trial met its primary goal of demonstrating the safety of Prochymal in patients with compromised pulmonary function at the six-month evaluation point.
•Prochymal significantly decreased systemic inflammation in patients when compared to those receiving placebo, as determined by C-reactive protein (CRP).
•Despite the reduction in inflammation, pulmonary function in patients receiving Prochymal was not significantly improved compared to those receiving placebo.
“We are very pleased with the interim outcome of this study and that the data continues to support the strong safety profile of this therapy, particularly given the severity of these patients’ pulmonary disease,” said C. Randal Mills, Ph.D., President and CEO of Osiris Therapeutics. “Importantly, we are gratified to obtain clear, objective data that helps bolster our understanding of the anti-inflammatory effects of these remarkable cells. Short-term, these anti-inflammatory effects did not appear to improve pulmonary function in patients with advanced destructive changes of the lung. Collectively however, these findings add to our confidence about the safety and effectiveness of the drug.”
Six-Month Interim Data
Prochymal was evaluated in a total of 62 patients, 58% of them male. The patients ranged in age from 47 to 80 years and suffered from moderate (n=23) to severe (n=39) COPD. Patients had been suffering with COPD for an average of 7.8 years. Patients with asthma were excluded from the trial.
All patients in the trial completed the planned course of four infusions without any evidence of infusional toxicity. Oxygen saturation levels were measured throughout each infusion and showed no adverse effects of the infusion. Adverse event rates were comparable for patients receiving Prochymal and placebo. There were no signs of adverse immune reaction after any of the four infusions and no differences in the reported incidence of infection of any kind.
Prochymal significantly decreased the levels of CRP compared to placebo in those patients with elevated CRP (>4 mg/L) at the time of study entry (p<0.05). The difference from placebo was evident at ten days post initial infusion, and was maintained throughout the treatment and follow-up period. CRP is a protein found in the blood in response to inflammation and is often elevated in inflammatory diseases such as GvHD and Crohn’s disease, and has been found to correlate with clinical parameters of disease activity. Although there is substantial preclinical evidence, this study provides the first well-controlled objective data confirming the systemic anti-inflammatory effects of Prochymal in humans.
Pulmonary function tests such as FEV1 and DLCO or carbon monoxide diffusing capacity of the lung were not improved over placebo following treatment with Prochymal at six months. FEV1 or forced expiratory volume is the amount of air that can forcibly be blown out of the lungs in the first second of exhalation. Although not reaching statistical significance, treatment with Prochymal did produce positive trends in exploratory functional endpoints such as the six-minute walk test and certain cardiac related parameters, particularly in patients with less established COPD.
The trial will continue as planned and patients will be followed for the balance of the two-year evaluation period.
*Letter from a Dodge dealer
letter to the editor
A government sponsored healthcare program? Be careful what you with for
My name is George C. Joseph. I am the sole owner of Sunshine Dodge-Isuzu, a family owned and operated business in Melbourne, Florida. My family bought and paid for this automobile franchise 35 years ago in 1974. I am the second generation to manage this business.Â
We currently employ 50+ people and before the economic slowdown we employed over 70 local people. We are active in the community and the local chamber of commerce. We deal with several dozen local vendors on a day to day basis and many more during a month. All depend on our business for part of their livelihood. We are financially strong with great respect in the market place and community. We have strong local presence and stability.
I work every day the store is open, nine to ten hours a day. I know most of our customers and all our employees. Sunshine Dodge is my life.
On Thursday, May 14, 2009 I was notified that my Dodge franchise, that we purchased, will be taken away from my family on June 9, 2009 **without compensation** and given to another dealer at **no cost** to them. My new vehicle inventory consists of 125 vehicles with a financed balance of 3 million dollars. This inventory becomes impossible to sell with **no factory incentives** beyond June 9, 2009. Without the Dodge franchise we can no longer sell a new Dodge as "new," nor will we be able to do any warranty service work. Additionally, my Dodge parts inventory, (approximately $300,000.) is virtually worthless without the ability to perform warranty service. There is no offer from Chrysler to buy back the vehicles or parts inventory.
Our facility was recently totally renovated at Chrysler's insistence, incurring a multi-million dollar debt in the form of a mortgage at Sun Trust Bank. HOW IN THE UNITED STATES OF AMERICA CAN THIS HAPPEN? THIS IS A PRIVATE BUSINESS NOT A GOVERNMENT ENTITYÂ
This is beyond imagination! My business is being stolen from me through NO FAULT OF OUR OWN. We did NOTHING wrong.
This atrocity will most likely force my family into bankruptcy. This will also cause our 50+ employees to be unemployed. How will they provide for their families? This is a total economic disaster.
HOW CAN THIS HAPPEN IN A FREE MARKET ECONOMY IN THE UNITED STATES OF AMERICA
I beseech your help, and look forward to your reply. Thank you
Sincerely,
George C. Joseph
President & Owner
Sunshine Dodge-Isuzu
I’d be willing to bet that HEB insiders are behind the false rumor that Feuerstein is under investigation by the SEC. As anyone who has read Asensio’s book knows, HEB’s M.O. has always been to divert attention from the company’s shortcomings by trying to discredit its detractors.
Probably HEB insiders called the SEC and said Feurstein should be investigated. The way they play fast and loose they would consider that an investigation
Biogen Idec: Expect Downside on PML Clustering
We are maintaining our 2-Equal Weight rating on shares of BIIB following report of a 9th case of PML in a patient treated for MS with Tysabri. While prior cases of confirmed PML have had limited impact on BIIB shares we believe that with a clustering of 3 cases within a month and with persistent concerns regarding cumulative risk on longer term exposure that BIIB shares will come under pressure today.
BIIB announced late Friday the confirmation of an additional case of PML in a patient treated with Tysabri. The case represents the 9th case confirmed since July 2008 and the 3rd case since May 18, 2009. Few details were provided beyond the fact that the case occurred ex-US and after 17 months of dosing.
With 7 of 9 confirmed cases occurring ex-US we expect greater scrutiny of ex-US risk managament which could ultimately slow growth from 123 new patients/week to a rate closer to the 46 new patients/week in the US. With the clustering of cases we expect more tentative use overall and would continue to advise investor caution pending further long term dosing experience
Read more:
Biogen Idec: Expect Downside on PML Clustering »
Barclays Capital
drbio,
One of the plans include the re-importation of drugs from Canada. Wouldn't you call that price control?
Rep Rangle said that 95% of Americans will be covered under the new "public option" program and if that follows the medicare format wouldn't that control pricing? ..
=========================================
If too many drugs are bought from Canada sooner or later the drug companies will stop selling to canada.
Medicare will be bankrupt the way things are going how long will this public option be viable.
President Obama's friend makes the news
that would bring prices down and also make it so no new drugs come to market
Chavez may end patents on medicine in Venezuela
Sun Jun 21, 2009 1:55pm EDT
CARACAS, June 21 (Reuters) - President Hugo Chavez has vowed to shake up the rules governing intellectual property rights on medicines and other products in Venezuela, the socialist's latest move against the private sector.
"A song is intellectual property, but an invention or a scientific discovery should be knowledge for the world, especially medicine," Chavez said late on Saturday.
"That a laboratory does not allow us to make a medicine because they have the patent, no, no, no," Chavez said.
Chavez, who has nationalized many Venezuela industries and is critical of the private sector, ordered his trade minister to analyze the patent rules in the OPEC nation.
"Patents have become a barrier to production, and we cannot allow them to be barriers to medicine, to life, to agriculture," said the minister, Eduardo Saman, who previously headed Venezuela's patent agency.
"We are revising all the doctrines and laws related to patents, which should be compatible with the international treaties that we have signed and respect and honor."
Chavez recently criticized Swedish packaging maker Tetra Pak, saying its patents on cartons were limiting production in Venezuela.
(Reporting by Frank Jack Daniel, editing by Vicki Allen)