Saturday, September 27, 2014 1:43:38 PM
PSS's IPO with APP is certainly legendary! A brief synopsis of what transpired afterward:
"American Pharmaceutical Partners, Inc. (APP) is a publicly traded specialty pharmaceutical company based in Schaumburg, Illinois. Often during its brief history, the company has been at the center of controversy and at times skirted scandal. Its chairman, Dr. Patrick Soon-Shiong, owns about 70 percent of APP through his control of another company, American BioScience. Over the years, the results of much of his research have been questioned, and he also has been involved in a number of disputes with business partners, including an estranged brother who fired Soon-Shiong and sued him in the 1990s. Wall Street short-sellers have been gunning for APP since its 2001 initial public offering (IPO), convinced that Soon-Shiong's high-wire act was due for a fall. In particular, his doubters question claims about the effectiveness of a new cancer drug for which APP has been seeking Food and Drug Administration (FDA) approval, a case that has prompted the Securities and Exchange Commission to review and consider launching a formal investigation. Despite the notoriety surrounding its attempt to launch its first proprietary blockbuster drug, APP has developed a very profitable business in injectable pharmaceutical products, offering more than 150 generic injectables in more than 300 dosages, focusing primarily on the oncology, anti-infective, and critical care markets."
SOURCE:
http://www.answers.com/topic/american-pharmaceutical-partners-inc
Do you think he's going to let that happen again?
§KEYO
"American Pharmaceutical Partners, Inc. (APP) is a publicly traded specialty pharmaceutical company based in Schaumburg, Illinois. Often during its brief history, the company has been at the center of controversy and at times skirted scandal. Its chairman, Dr. Patrick Soon-Shiong, owns about 70 percent of APP through his control of another company, American BioScience. Over the years, the results of much of his research have been questioned, and he also has been involved in a number of disputes with business partners, including an estranged brother who fired Soon-Shiong and sued him in the 1990s. Wall Street short-sellers have been gunning for APP since its 2001 initial public offering (IPO), convinced that Soon-Shiong's high-wire act was due for a fall. In particular, his doubters question claims about the effectiveness of a new cancer drug for which APP has been seeking Food and Drug Administration (FDA) approval, a case that has prompted the Securities and Exchange Commission to review and consider launching a formal investigation. Despite the notoriety surrounding its attempt to launch its first proprietary blockbuster drug, APP has developed a very profitable business in injectable pharmaceutical products, offering more than 150 generic injectables in more than 300 dosages, focusing primarily on the oncology, anti-infective, and critical care markets."
SOURCE:
http://www.answers.com/topic/american-pharmaceutical-partners-inc
Do you think he's going to let that happen again?
§KEYO
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