Tuesday, October 25, 2016 10:32:11 AM
as for cloaked comment on readiness... they might be ready to remain a very very small player in biosimilars but are they ready to really compete in the biosimilar explosion or i-o explosion? they need capacity and geographical coverage/diversification to even think of being a player...
my first job out of college was managing the construction dept for a research center for procter and gamble... if one started today in terms of site location, planning and fda approval and cert you would be going full speed ahead and would be lucky to be even close to being ready...
and any landlord would not touch pphm in the present financial condition... (even with $100 mil in bank it would not be considered a "credit" tenant... and landlords want "credit tenants" because it makes their properties easier to finance or sell... i worked in institutional real estate since 1984 as asset manager/broker/ and developer... site selection could take months and months.... they have to shore up the financial picture to even be considered... particularly for special use facilities that require high tenant finish dollars and high parking ratios...
and it will not be easy... sk talks about how easy a site fits into warehouse space? very tall order due to parking issues with warehouse space particularly with shift changes (basically double parking when shifts change out)... if they want to maintain clean image they need to go into newer buildings... and most owners are reluctant to venture out from typical bread and butter warehouse use... tech/flex space has a better chance where parking ratios are better because this type of use sucks up parking so it hurts the rest of a project...one would have to have stellar credit (bond rated which pphm doesn't have) or significant guarantees which suck up credit lines.....
so all this needs to happen now and not 12 months or even six months from now to be a player...
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