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Yes it was Dec 16 to be exact so just before the big surge here
Hey Lizzy
Absolutely fine if you want to share this with Denner. If you or anyone has KM’s email handy can you send over please? And the new IR hire? I’ll pen something to them both when I have some time.
Story time
I’ve held onto this for a bit because one, I wanted to let enough time pass to see if anyone from the company was going to reach out but also because I didn’t want to add any negativity to what was already another challenging year for long time investors.
For those that are new here I’ve been invested in the company since 2010 with what believe is a sizable amount of shares (IMO for an average retailer), got crushed with the first adcom, was sky high after FDA approval, only to be destroyed again by Du. I’ve held strong and retained 100% of my position since Du and call it what you will, I remain optimistic that there will be a sale of the company. Maybe not at the numbers we all once projected but I do believe we will be surprised when it happens. With Denner being on board at the level he is, my guess is we are still 12-18 months away from a sale. End of this year would be a very welcomed surprise. Everyone knows the sooner the better, just hard to put a number on the US as it stands today (God bless Marjac and team for all your efforts!). EU exclusivity…tick tock, tick tock…
After the plethora of complaints about IR being non-responsive in mid-December I decided to drive over to HQ to take a look around for myself. On that day only three of (approx) ten designated AMRN parking spaces were occupied. Common practice says these spots are typically assigned to the executive team and it’s understood we are all working in a very different environment these last 2 years so not uncommon for office attendance to be minimal. At first I was there just to take a look at the office but sitting in the parking lot I had this “why not” moment so I parked and decided to go in and see for myself what the office was like, who was around, etc. The front door of the building was ajar thanks to the smokers out front so in I go and take the elevator to the top (3rd) floor. The elevators open and it feels like this scene from a movie where one enters Heaven, surrounded by clouds with soft glowing light shining upon me. It was very surreal and the office had a very clean feel to it. Staring at me right away was the receptionist from behind her desk, visible directly from the elevator bank. In the Amarin lobby is a large standing poster/advertisement of V, a few chairs and what appeared to be a very large office space which I could observe through glass surroundings, giving it a very open and crisp/clean feeling. I tell her that I’m a long time retail investor who lives in the area and I wanted to speak with someone from investor relations. She looked very confused and I could tell they didn’t get many walk in guests, if ever. She got on the phone, called someone stating that I wanted to speak with IR, the person on the other end (assuming) didn’t know who to direct me towards so she said someone would be coming out. I thanked her, asked her if she liked working there (yes) and if she’s been there long (no). I could tell she remained skeptical of my being there but being in Sales my entire career, starting out cold calling and knocking on doors to me this was just a routine cold call.
After a minute or two a gentleman comes out, introduces himself as someone from their Compliance team and asks how he can help. I couldn’t help but notice another gentleman behind him, almost standing guard as a security presence (had the look and feel of a bouncer). I explained I was a long time retail investor who lived nearby and I wanted to speak with IR about a number of questions I had - citing my family history of CAD and that I’ve been on V for years, explained that I’ve had a lot of trouble with ExpressScripts trying to substitute other medications, asked to discuss plans for a combo pill and/or authorized generic and wanted to hear from the company directly since there hasn’t been a lot of communication to the retail community from IR. I wasn’t asked to come in and sit down, I wasn’t offered coffee/water and wasn’t given his business card. Instead he said “and I’m not trying to blow you off” (which it now feels like he was) and says to me to leave my name/number/email and that he would make sure someone reached out to me. I left my information, wished him well for the holidays and went on my way. No surprise but I have not been contacted by anyone. Since my visit we’ve had a number of developments - the combo pill topic, new IR hire and of course Denner adding to his position. I share this because the lights are definitely on but still doesn’t appear anyone is actually home. There something so odd about this firm and I just can’t understand why the corporate culture hasn’t evolved a bit, especially after all the blows we’ve suffered. I’m still debating sending this story to KM with the new IR lady in copy. As CEO he sets the tone for the rest of the organization and should know his staff is underperforming, hence maybe the move of adding to the IR team. I’m at a loss for why he’s not more vocal, internally or external. If you want the company sold you need to act like a salesman.
My current firm has been through three rounds of private equity ownership and each time is the same story - new owners insert new management team, make a few moves, cut costs and/or add products via strategic acquisitions so to shine it up and sell it for a premium. All of these transactions had 12-24 month timelines to play out but I know for a fact the end goal was decided long in advance of the shining and the actual flip. So what’s our company’s end goal? It’s clear the BOD needs replacing and hopefully the recent addition along with AD coming in strong will help turn that into a reality.
Short of applying for a position in the company I don’t know what any of us can do to to better our situation. It doesn’t appear they are interested in engagement with retail. Someone suggested pooling together with AD to add a few million collective retail shares into his stockpile - can’t hurt in reaching out to him to discuss this option. Near term in the US we have Marjac, Healthnet continuing and possibly bringing Hikma back in with new evidence. I’m very interested in the next filings to see who has added, learning of early Germany results and when we can get China going later this year.
Questions I still have - where is IR staff located and why don’t we have anyone (maybe one now?) in our US HQ? Why do we still have such a big office space? Downsizing the office footprint makes a lot of sense especially since Covid.
DTG
Nice to see you posting and back in JL
74026
Yes see my subsequent post. Apparently I can’t be on the phone, emailing and web browsing at the same time
Apologies while multitasking- I had thought this was new. Disregard.
Just posted from @Opster216 on ST
Outcome:
Based on the CHMP review of data on quality, safety and efficacy, the CHMP considers by consensus
that the benefit-risk balance of Vazkepa is favourable in the following indication:
Vazkepa is indicated to reduce the risk of cardiovascular events in adult statin-treated patients at high
cardiovascular risk with elevated triglycerides (≥150 mg/dL) and
• established cardiovascular disease, or
• diabetes, and at least one other cardiovascular risk factor.
For study details including cardiovascular risk factors and results with respect to effects on
cardiovascular events see section 5.1.
The CHMP therefore recommends the granting of the marketing authorisation
“Just”
Yeah. That’s all you’re doing
78,026
Par for the course then…
73,026
84,026
“Suggesting”
“But”
“Likely”
Do you have any concrete facts to back up your claims? Interested to know if you’re a public official or have direct ties to the China approval process or if you have specific intel to cite? TIA
Late to the party…I’m in again
:)
Zip you mind if I steal this? I may be emailing KM about something else in the coming week, pending some feedback of a trusted source. You’ve very clearly and succinctly laid out the reason behind the flawed ruling. Thank u
Marjac this is absolutely incredible and as many here have stated, your efforts are second to none. I have a story/experience to share with the board however tonight is not the night for it as I want to keep the good vibes going. Well done, sir!!
83826
He was way ahead of everyone when he dumped all his shares last time. Lucky prick. Hope this is a sign that something is on the horizon for 2022 and after learning of the Denner investment I personally believe it would still be a 6-12 month timeframe for any deal to take form. If I’m still here one year from now I hope it’s because of my dividend stream from PFE!!
More like mac n cheese some nuggets and Toy Story lol
Ha excellent advice. About to be on kid duty so we may have to try this another time.
Lmk when you see this…I’ll send it then will remove
Lizzy can you PM me your email address?
Question for the board
For those who have reached out in the last few weeks/months - when was the last time anyone had a response back from IR?
Thinking about taking a drive over there to see what’s up for myself.
Maybe Wayne, PA perhaps? I know the spot well
adenner@sarissacap.com
I can’t say if the email format is still valid - pulled from a public court file from 2020
Agreed. Activists engagement also plays in line with KM 1 year anniversary and the (possible) start of, or settlement of, assuming no dismissal, the infringement suit. As much as I would like this to be over sooner than later I’m patient enough to be strapped in for 2022.
Lots of responses to a poll. Best guess to your question IMO is 6-12 months. Anything sooner is always welcomed
$26 BO
Nice volume flowing in
In what context? TIA
“Guess”
You and me both
US market is still massive and in the grand scheme of things we’re still just two years into the CVD indication with a patent loss in our only market and then add in a global pandemic. You can’t make a story like this up. We never got off the ground floor. They’ll end up launching their own generic in the US and they will crush it and then comes the combo pill, then Alzheimer’s indication and so on. They’ll actually do the things JZ and JT only talked about…it’s just they never had a clue or a plan how to execute so here we are. It’s BP BO or bust in order for V to reach its true potential.
You’re correct about their limited cardio portfolio in Canada. The other way I look at this is if you did have interest in V, given the uncertainty of the current US market and while the infringement suit plays out, where would you start to try and get a better read on ROW outlook? US would be out, for now, and Europe too big and too early to tell gauge a valuation until they get a feel for what a smaller market looks like. Canada is the easy answer for both those reasons. On the flip side a company like PFE has all the resources in the world and if they wanted Europe bad enough they would buy the entire pie and CVR the US. Let’s hope that’s what’s going on behind the scenes.
I believe they had a generic business unit that was spun out last year in a deal with mylan. Fact check me though
Listening to the HLS call yesterday was refreshing. Recent pps action not so much and agree not a lot has changed in recent weeks. I’m thinking PFE wants a quarter or two of Canada numbers before making the move. JMO
Lizzy I had to drop for other calls - thanks for posting this I was very interested to hear the Q&A segment and love seeing first question about V