@AnfuhrerMitwut As per hypothetical, and in my opinion, the following..
KERX pegged (“a plan”, by design) as one of several small bios, which combined, would build a leading renal business, dating back to when Daniel P. Regan joined KERX in Oct. 2013 — Regan former Global General Manager, SVP of Renal Franchise at Genzyme/Sanofi.
In Jan. 2014, 3 months later, Daniel W. Olmstead, former senior exec, Renal Division at Genzyme/Sanofi, joins KERX as VP Payer Access, to lead Keryx’ strategic global market access, managed care and reimbursement initiatives — iOlmstead’s roles at Genzyme/Sanofi included coverage of key national and regional health plans, managed markets product launch planning, and playing an integral role in establishing Renal pricing and contracting strategies for Renvela/Renagel. Regan and Olmstead worked together at Genzyme/Sanofi.
Also in Jan. 2014, Baupost initiates relationship with Keryx.
A month later, Feb. 2014, Greg Madison, former 12-year Genzyme/Sanofi exec who succeeded Regan as Global Head of Renal Division, joins Keryx.
In other words, Keryx pegged since Oct. 2013 as one of several bios, which combined, would build a leading renal business to replace Genzyme/Sanofi’s $1 billion Renvela/Renagel franchise once generics were approved by FDA. The time between Oct. 2013 (Regan joined Keryx) and today, some 41/2 years, is the time during which all machinations, innerworkings, have been employed and which many unsuspecting shareholders have suffered as a result.
RMTI, another one of several small bios pegged to be part of building leading renal business — AMAG another, and possibly AKBA and RLYP which pitentially went sour with Butler.
KERX’s Auryxia was approved in Sept. 2014 — RMTI’s Triferic was approved in in Jan. 2015. During 2015, 2016, 2017, and what has transpired of 2018, both, KERX and RMTI/Auryxia and Triferic, have a similar story in terms of “unrealized” advancement in companies’ market capitalization and product commercialization — similarities in short operation “assault”. KERX’s pps went from $18s to $3s following initial FDA approval. RMTI’s pps went from $10s to $18s to $4s following FDA approval.
In the case of RMTI you have a particular situation (not the case with KERX). Robert Chioini founded Rockwell Medical back in 1995 selling dialysis kits and ancillary items out of a 10×20 foot room. In 1998, Chioini takes company public and has since been CEO and Chairman of BOD — 20 years. What happened yesterday was a power move by “forces that be” in an attempt to oust Chioini. As founder, mentor, and CEO/Chairman of RMTI since its inception, Chioini is fighting back to retain control of his “baby”. Chioni owns 10% of company, Richmond Brothers another 10%, “powers that be” another 10% plus as of 3/31/2018. Who knows what changes in ownership structure have taken place since. RMTI short % of float at 21% (KERX at 25%).
So goes hypothetical and in my opinion, whether KERX buyout or KERX/RMTI merger, KERX’s immediate future is/was upon us VERY SOON!!! If KERX/RMTI merger, the sequence would be merger followed by buyout of combined company by SNY — whether yesterday’s Chioini episode will affect KERX’s story in terms of timeframe or as a whole, is yet to be seen.
Look, for shareholders, the KERX story, “a plan”, by design, has been one of fleecing, deceit, manipulation, and potential collusion, for years, with dramatic emotional and financial costs, the latter in terms of dead money and opportunity costs. And now, shareholders could be facing an “end game” which could turn out in shareholders being short-changed. Really a monumental nightmare any way you look at it — all in the name of “a plan”, by design, involving wanting to build a leading renal business to replace a cannibalized renal business, seemingly at the cheap and at the expense of unsuspecting shareholders.
Take note of the following: KERX without CEO, yesterday an attempt to oust RMTI’s CEO, KERX yet to file Annual proxy (obviously delayed or not to take place), RMTI files Annual pre-proxy with NO date (highly irregular) and, 3 weeks later, April 30th, files definitive-proxy WITH date coincinding with date of KERX’s CEO exit. RMTI’s Annual scheduled for June 21st.
ALL the above, in my opinion,
