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I'm no legal beagle, but the problem I see for Karim is that he wasn't fired, he resigned (Big difference). He chose to terminate his employment. Regardless about the "Change of Control." we're not privy to all the circumstances or what was said behind closed doors.
It's like trying to get unemployment payments when you quit a job vs being terminated. I tried in my younger days, of course that was many moons ago.
Happy Easter everyone. Even though it's a Christian holiday.
Bolio; No, this was through my insurance Humana. It was offered as part of my Medicare Advantage Plan. Have you tried the Vascepa Coupon at COSTCO? For uninsured "Private Purchase" I still paid over $500 for a 90 script at Costco.
Are you retirement age? Do you meet the minimum criteria? 150 mg/dl TGs and at risk for any CVD indication, family history, elevated blood pressure? Actually a lot depends upon your prescriber. I had issues with Express Scripts too (United Healthcare). Vascepa wasn't on their formulary so I had to shop elsewhere. I had Blue Cross for a while until I found out on this board that BCBS was no longer putting Vascepa on their formulary. This past year I changed over to Humana, hope they continue to offer Vascepa on their plan.
Good luck to you,
No, I had setup my Medicare Advantage Plan with Humana last December. Humana offered Vascepa for $90 for 90 days. I had also been on Vascepa previously through my PCP for over 3 years.
Besides I meet the TGs of 150 mg/dl threshold. It’s all about the doctor and the insurance company.
Just ordered my Vascepa through Centerwell Pharmacy (mail order). Pleasantly surprised to see that 90 day script for Vascepa costs me $90. The Generic version costs $121.50 for 90 days. No wonder the generics are up in arms. Who's going to request generic when you can get the Gold standard at a cheaper cost? Serves those crooks (generics) right.
The “Big” differences now are;
At least Sarissa (Denner) has skin in the game. The old guard did not. Yes, 6% isn’t much, but it does give Denner some incentive.
Denner has leveraged himself pretty slick. To gain control of Amarin for $100M was quite an accomplishment. To get rid of the old guard was quite an achievement. IMHO this was a masterful stroke. For the shareholders especially.
I have to think it’s strictly business with Sarissa and the BOD. They see the opportunity, they will seize the moment. They will sell Amarin for a premium. Move on to the next opportunity.
It does make you wonder about the laws that protect investors from poor management and BODs? Before Sarissa taking control, we shareholder were so frustrated. I don’t believe this is the case with Sarissa and Company. Because of the above.
Really Einstein? What? You related to PWO? Kostas is currently COB for Innoviva, plus he’s a practicing doctor, consultant and on several BODs.
I haven’t pulled your history, but I’ve never seen you post here before. Your probably going to say you’ve been here since 2012? Odd…never seen you post?
John chief; Agreed totally. When I’m at a car dealership and I get approached by a pushy sales person. I always ask if I can see their car. They kind of look at me funny and obviously say “Why?”
I say; because I want to see if you have an ice machine in your trunk? They stand there dumbfounded…deer in the headlights look. I finally relieve them of their anxiety and say; because if you had an ice machine, then I understand why you’re so pushy with me, because you probably try and “sell ice cubes to Eskimos!!”
Karim had that air about him. Arrogant, too confident, with nothing to back it up with.
He surely doesn’t deserve or hasn’t earned one penny of his salary. Let alone a severance package? Are you kidding me?
Geez, really? Your sounding like PDud and STS. You hope Denner has a plan? Are you kidding? He’s always had a plan, he’s just not going to the last chapter. We have to read the entire book as it unfolds.
Caddie; Check this out... Clinical study performed on 34,647 patients using either (two arms) Methotrexate (anti-cancer drug) or Anti-TNF (anti-inflammatory drugs, such as Humira)
https://clinicaltrials.gov/ct2/show/NCT04571697?term=dementia&cond=Alzheimer+Disease&draw=2&rank=4
It's downright scary to think that people are being given a dangerous drug like Methotrexate to test the efficacy on Alzheimers patients. Humira I can understand. Are they grasping at straws or what?
Methotrexate
https://medlineplus.gov/druginfo/meds/a682019.html
Don't misunderstand me; I don't doubt that the BRAVE data will show some improvements in reducing Beta-amyloid Plaques. EPA has been shown to reduce Plaques correct? Thereby reducing the chances for a CV event.
https://lundquist.org/news/omega-3-drug-vascepa-slows-progress-heart-disease-new-study-lundquist-institute-hows#:~:text=Data%20from%20the%20study%20showed,particular%20type%20of%20heart%20disease.
I would venture an educated theory that Vascepa will reduce these Beta-amyloid plaques and reduce inflammation in the brain in the 65 individuals. My only concern is the BRAVE Study will not receive the attention it deserves when it proves successful. As it is apparent from Reduce-It stats, the medical community is still not convinced of Vascepa's efficacy. It's always about money, money, money!!! There was a ton of money spent on Reduce-It. IDK, maybe BRAVE will get some attention? If it "Pops" the stock price then I'm all for it.
Apologies, Still.... who's actually minding the store and taking the data? A bunch of undergraduates from UofW or some seasoned, hard working, hardcore researchers (tongue in cheek) from the Veterans Administration?
It's not like they have thousands of patients to assess. And since the study has been ongoing for almost 7 years that's not what I would call a robust study. It's like the "Maytag repairman."
Wake me up when there's something to report. Hey Joe; Where's that report on Mr. Jones? Joe: Which report? The one that got coffee spilled on it, you said you were going to reprint it? Joe: Oh, that report, yeah okay, I'll get to it right after I finish watching Oprah.
Understand, you get what you pay for.
Rose; William S Middleton appears to be the chief investigator now, as Cynthia Carlson’s name has been struck through.
Don’t realize what this means to the overall picture, but the Veterans Administration has taken the lead role.
We’re from the Gubmint and we’re here to help…. :D(
Although cognitive levels are a portion of the Brave study. It’s not the whole banana. Testing the patients spinal fluid for levels of beta-amyloid plaques (before and after), would be a key indicator for me.
Heck, I can’t remember what I ate last night. I go into my garage for something and by the time I get there, I’ve forgotten what I went there in the first place.
Agree, unless it’s a really drastic decline, a cognitive test could be very subjective.
Typical cognitive question;
Interviewer;
What’s your wife’s name….? My answer, which one? Interviewer; Sorry, let me rephrase…You’ve been married how many times? My answer; I lost count after the fifth wife, I think I’ve been married 10 times, I can’t remember!!!
Interviewer; Okay, next question, please draw a clock face and include the numbers. Set the time for 11:35. My answer; Hmmm, did you say what kind of clock you wanted?
Interviewer; I didn’t specify, I just said to draw me a clock face with the time set to 11:35. Why the question? My answer; Well, I could get pretty creative and draw a Cat clock or I was thinking perhaps a Cuckoo clock. I really like those little birds that come out every half-hour and Hourly.
Interviewer; You passed the test Mr Jones, no more questions. Thank you for your service and participation.
Ram; and a red wine chaser. Spaniards are big on Prosciutto and stuffed grape leaves. Brought over by the Romans.
Garbanzo beans perhaps? ;D)
rose;
I sincerely hope that AD levels in Japan is directly related to the amount of EPA in their bodies systems already. Perhaps the amounts of EPA in the BRAVE study is higher than the levels seen in Japanese populations?
Keep in mind also that Spain has a higher consumption level of red wine. Although Japan has it's Sake'. Perhaps the red wine (higher tannins) counteracts the effect of cholesterol in their systems? A Mediterranean diet perhaps lends itself to lower incidence of AD? Plus the wine consumption?
Now, combine red wine drinking, Mediterranean diet with 4 grams of Vascepa per day, keeps the AD at bay? We hope anyhow.
Thanks Sleven;
Study apparently lost 19 participants (131) or is that the starting number do you think? You would think that the VA could get the minimum number of patients for this? Unless it's a regional study since the University of Wisconsin is the collaborator.
Could be an expensive study since it is invasive like Captain says (spinal tap).
I like our chances for success with BRAVE-EPA; There's a DMC, the study hasn't been stopped (6+ years), board posters (IHUB) personal testimonials should mean something good for EPA.
I wonder what type of cognitive pre & post examination test was determined?
So, the study would split the 131 participants in half, with each arm getting 65 participants (+1). Wouldn't it be great if the 65 on EPA would exceed expectations for the cognitive test?
Like; what did you have for dinner two weeks ago Tuesday (today?) Who was your maid of Honor at your wedding? What is the name of your Mother-in-Law? Who was the doctor who delivered your children? Just kidding folks..... :D)
https://www.medicalnewstoday.com/articles/cognitive-test-for-dementia#:~:text=The%20Mini%2DMental%20State%20Examination,a%20possible%20score%20of%2030. or
https://www.verywellhealth.com/alzheimers-tests-98647#:~:text=The%20Mini%2DMental%20State%20Examination,language%20abilities%2C%20and%20visual%20construction.
Since there are no additional patients (131) being accepted, I wouldn't imagine the test results and data gathering would require any additional delays?
I surely hope the University of Wisconsin has deleted the words "Fish Oil" from the study abstract. I sent them numerous emails, I received one response, so someone is looking at this too.
Morning Joe,
Liked your post. Good to hear the missus is doing as good as she can. Has the move to Colorado had any effects?
I too believe EPA (Vascepa) has provided some protection for oncoming symptoms of Dementia. My mother had it and eventually succumbed to it in 2010. She was 91. Genetics is hard to predict, but usually male children get a lot of the mother’s genes.
Good to hear from you Joe. We’ll have to meet someplace. Perhaps Santa Fe? It’s about halfway. I understand you can’t leave the missus. There’s an interesting place in Santa Fe called Meow Wolf. My daughter took me there. Blew my mind.
Have a great week,
Nuke
Thanks Marjac; I say, "it's about dam time." Will we ever know why Amarin couldn't have supported you previously during the EPADI appeal?
Something we as shareholders will never know....Thanks to Alex Denner, this never would have happened. He must feel the same as we do. We've been shanghaied.
GLTA
Bird; I agree with your assessment. My wife’s doctor basically said the same thing to her. Vascepa was too expensive, if you want fish oil just use an OTC brand.
Most of these doctors who think this way haven’t taken the time to do the research.
For example; my care provider is a RN practitioner, she was a believer in Vascepa because a doctor colleague educated her on Vascepa. So, there’s a % of doctors out there who do believe in the science.
It’s re-educating the majority of doctors who don’t believe. There’s sufficient evidence already done (outcome studies) that shows EPA effectiveness. I personally don’t understand what the problem is with the majority of doctors. Only thing I can think of is the price point for Vascepa.
Vascepa’s profit margin is relatively high 70% plus. Don’t you think to be more competitive, Amarin could lower the price? Of course the Generics would follow suit?
It’s all about marketing I’m afraid. Amarin has to bite the bullet and piss off the competition. Ford and GM do it all the time.
Bolio; who’s your insurer? United Healthcare? I know UHC uses Express Scripts. However, It really depends on your doctor. I don’t have Cardiovascular Disease, yet my prescriber is in my court and aware of the benefits of Vascepa.
Yes, my Cholesterol is >150 mg/dl, but I’ve never been diagnosed with CVD. If you’re at risk then that’s another story. IDK, maybe it’s my age group?
It all depends upon your health care provider (PCP). They need to write Dispense As Written (DAW) on your prescription instructions.
If this doesn’t work, change your insurer, and perhaps your PCP.
And yes, the Medical community needs to be more aware of Vascepa. This is a travesty. That medical professionals don’t know or don’t care to know about new treatments.
GLTY,
Nuke
caddie; So far SGEN, PRVB have both been cash offers. You might be unto something.
M&A season is heating up. I'm not holding my breath thinking Amarin will be bought this M&A Season. Too many things to resolve, US market strategy, Europe reimbursements, getting Germany back to the negotiating table, Patent infringement case, Fraud on the court (forward looking). The latter is very intriguing (fraud). If that was achievable somehow, that would turn the tables for sure. Not counting the reshuffling of Amarin management. Who's going to be the next CEO, COB?
Has there been multiple acquisitions by one company (Big Pharma) in one year? $43B that's a substantial cash outlay. Of course Pfizer made bank on COVID, let's go shopping Mr. Borla.
Hmmm, PRVB only has one drug Tzield, yet it fetched $2.9B for its 90M shares. 260% increase.
SGEN has four medications in its pipeline. for a 15% increase in share price. 187M shares @ $43B
Running; Great post, thanks for the personal data. What was the brand of Generic V that you were prescribed?
About WHAT? 10 cents? Really? Did happen to look at the overall market?
Prolly not….!
qq; I didn't see your post until now. I agree. I think Novartis will be the front runner here. They must have liked the deal Denner put together for the Medco sale. I think Vascepa is a superior product in all respects over Inclirsiran. Heck, Vascepa alone is a drug for Statin intolerant folks, besides Vascepa is also a drug for Type 2 Diabetics as less we forget it helps to normalize Glycemic levels as I recall? And don't forget about the BRAVE study coming out next year. This will put Vascepa on a different level than we realize.
Often times, rumors turn out to be truths.
GLTA
Nuke
TTE; I'm afraid we disagree. Here's my logic using only stock price indication and doing a wag
of the value of PCSK9 at the time of the Medco sale; I really don't like to predict the price AD will fetch for Amarin but here goes.
From the following graph we can see that MDCO hit a low in 2019 of around $15, We know that MDCO priced out at around $85 that's a 6x multiple (approx.) .
https://www.thestreet.com/quote/MDCO
Now, price in the value of PCSK9 and it's overall marketability. I'm guessing there's a number of estimates out there? Here's one; $1.1B
https://www.prnewswire.com/news-releases/the-pcsk9-inhibitors-market-to-grow-rapidly-during-the-forecast-period-with-a-cagr-of-15-1-analyzes-delveinsight-301545038.html
And we're saying Vascepa could get to $2B? For a drug that is cheaper and less intrusive (semi-annual injection). And yet Novartis ponied up $6B?
Most of us who take Vascepa know it works and it works in ways we don't realize it's working? In the right hands, Vascepa could become a Blockbuster drug. The potential is there, Denner just has to package it correctly.
IMHO Denner is not in it to double his money, with MDCO didn't he invest at around $24, so that's a 3-4X bagger. IDK, I just think most of us are selling Vascepa way too short. I look at this as a Warner-Lambert and Pfizer is sniffing & snooping, then pouncing.....!
I'm envisioning at least a $6B buyout price, which puts us at around $15 - 16 pps. Denner gets his 4x and we're all happy as clams. This is all without a bidding war.
Keep in mind that Inclirsiran (MDCO/Novartis) is not the only PCSK9 inhibitor in the market. There's 3 or more competitors. Vascepa is without any peers. Generics can't be considered a peer drug, although the market doesn't indicate that.
I like my chances at fetching upwards of $20 pps. Besides I was right about Sarissa's landslide win wasn't I :D)? I guessed we'd hit 82% I was off, I think Raf beat me on that prediction.
Main; I tend to agree with Stockboy. Vascepa has more value than most people think it does. Once the tide changes, look out.
I’ve got no facts (jump on it Meowza)…,
Like Statins, EPA will become a household word. Name Brands don’t go away. Vascepa will always be the “Gold Standard.”
Whoever buys us, I hope they issue stock because I want to be invested in whoever takes over “Brand Name Vascepa!”
“People will pay Ray”, people will come and hand over $20 bills and think nothing of it.
They will come Ray for the wind in their hair and the sunshine on their faces.
“People will come Ray Kinsella for Vascepa.”
Sure would make things more simple and efficient. Really, why pay for two positions, using two different people. It's actually a very good sign if the COB & CEO were one person.
And as a parting gesture whoever wrote this article needs to be terminated.
ORBAPU; "Vascepa, it's what's the doctor ordered."
There's been some discussion about rehashing of the Reduce-It outcome numbers and the new data being expounded by the French Doctor on Amarin's payroll? The more information and talking heads there are the better. We need to shout Vascepa from the highest mountain tops. Repeating old information is vital. Boring for us perhaps, but when you constantly repeat the information eventually the message gets through.
I can't vouch for everyone, but Vascepa has done wonders for me, in a lot of areas. My annual physical is coming up in April. Been taking Pravastatin and Vascepa (2x) regularly.
I have an inordinate amount of energy for most people my age. I don't get Panic attacks like I had years ago before I was on Vascepa. My cognitive abilities (creativity) has diminished slightly due to age. Other cognitive abilities has remained (intellectual activity). I'm tutoring a 3rd grader who is at a 1st grade level. The school says it's because of Covid. I don't buy it. Education starts at the home. Tutoring has energized my creativity as I'm trying different techniques to get my pupil to read, write his name, tie his shoes, playing games (fluency, vocabulary) etc. Trying to make teaching fun without the student realizing...hey I'm enjoying this rather than all the rhetoric. Where did this energy come from? As most people my age, just want to do their own thing whatever that is?
Don't miss the daily special at Denny's
I woke up about 2:30 AM couldn't get back to sleep. I was thinking about my mother and how she would always take an Excedrin PM in order to get a good nights sleep. Without realizing it but this was a prelude to her Dimentia. I've taken Excedrin PM a couple of times, I don't like what it does. I would wake up groggy from it. With Vascepa my mind is clear. I don't wake up in a panic/ anxiety like someone is holding my head under water. Panic and Anxiety is different for everyone. I still screw up alot, but hey that's just me. I still like a good joke, a good conversation, staying active. All because of Vascepa IMHO.
Still looking forward to the BRAVE study, as I think there's some real value there for Vascepa. If I have to take Vascepa the rest of my life, no problemo.....just let me keep my brain intact.
qq; you probably noticed Kiwi didn’t mention that particular side effect with Bee-Bop Acid? ;D)
Now did he? Was it because it would have made his point “MOOT?”
Folks, don’t fall for fake data, presented by a phony doctor. It’s hard for me to believe people actually take Nissen seriously.
As Tim Conway (McHales Navy) would say; it looks like 1.4578 months the separation between the arms begins.
And the old Amarin BOD reviewed Alex Denner candidates for inclusion in the Board and found them “not qualified?”
I’m so glad Sarissa won. Now we can begin to see some value restoration.
Diane Sullivan was way more qualified than that Leech PWO, even on his best day. Get rid of the Good Ol Boys network.
The existing Board is going to either toe the line or it’s adios amigo.
Wonderful new evidence about Vascepa and it’s coming from a new source.
I’m waiting for the PR that removes Karims self-directed bonus for non-performance.
Their track records speak for itself. Besides they'll probably go free since they'll plead "Freedom of the Press."
Thanks Captain; Only a matter of time for Vascepa to be accepted worldwide. It took some time for Statins to be accepted. Now look at the size of the Statin marketplace.
Lovastatin first introduced September 1, 1987
https://jamanetwork.com/journals/jamacardiology/fullarticle/2583424#:~:text=Trends%20in%20Statin%20Use&text=The%20first%20statin%2C%20lovastatin,ago%20on%20September%201%2C%201987.
Unlike our present Amarin management team, who threw in the towel in the US market. Plus all the other opportunities they passed on. Vascepa is a prime example of a great medication before it's time. Will Vascepa become a Household name? Perhaps under the right leadership.
Heck, PWO was already in the Bahamas most likely, basking in the sun, drinking iced tea.
TTE; I'll go along with that, there's probably some level headed thinkers amongst the current Board that are relieved that PWO is gone. Now the question is; what to do with Karim?
I'm sure most of us have attended meetings where a particular someone is so preposterously arrogant that they attempt to control the meeting?
I envisioned PWO as the type of person who probably did such at every Board meeting. He would listen to your assessment but would basically ignore whatever points didn't match with his already "biased" position. And Karim sat mildly by letting him control the meeting and the outcome. Okay folks...time for the vote....what say you?
Hence KM is just as much to blame as anyone, more so because of his position in the company. Doesn't really matter now, but the Buck stops with the CEO.
qq: There's so little we don't know. Maybe Denner will be able to sort out the good from the bad. I'm still not buying it however. KM had some experience working for Merck. I think he was in over his head and still is. That's how you gain experience. But please....not at $5M a year.
"Come on Man."
Zip; your entitled to your opinion. I don’t agree. How can a CEO be so naive?
I like this example; Org Chart 101, 1) Shareholders/Owners, 2) BOD, 3) Indirect Line of command; President & CEO is the leader of the Organization, not the Board of Directors. The BOD answers to the Shareholders/Owners. The President & CEO lead the Organization according to this Org Chart. A good leader utilizes the wisdom of the BOD and takes what he needs from them to make rational decisions for the Organization. The President & CEO perhaps, perhaps not?
http://www.orgcharting.com/corporate-organizational-chart-board-directors-example/
https://www.score.org/resource/blog-post/directors-and-officers-understanding-roles-corporate-management?gclid=CjwKCAiAr4GgBhBFEiwAgwORrYvDhN-mwMomingwc96EgTs7uTZCWsIUBtBuj-je9nfkr86NEh4M-xoCSF4QAvD_BwE
Chairman of the Board: the leader of the board whose job is to effectively oversee the other directors and work in conjunction with the CEO and other corporate officers to formulate and implement business strategies
Chief Executive Officer (CEO): the highest-ranking executive of the corporation responsible for the corporation's operations at every level, the CEO reports directly to the Chairman of the Board. It doesn't say the CEO takes his marching orders from the Chairman
In effective Corporations like the Old GE where Jack Welch was CEO & Chairman, he only answered to himself. The shareholders didn't have a problem when GE was King of the Roost and times were good.
I'm not buying it, that Karim Mikhail had no responsibility when important decisions were made. He was a party to and responsible for making business decisions for Amarin.
James; Smart engaged CEOs may listen to the BOD, but good ones like Jack Welch definitely marched to a different drummer.
Thanks but no thanks.
The title; Chief Executive Officer means what? A wimp behind a desk, relying on a leech like Per Wold Olsen to call the shots? Really?