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NoMoDo

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Re: cfoofme post# 3495

Thursday, 05/07/2020 2:59:31 PM

Thursday, May 07, 2020 2:59:31 PM

Post# of 3562
Their main drug was about to go generic in 2016, meaning that revenue would take a hit. In response, their previous CEO and the board decided to buy another generic drug company for $40 bil. The deal was a huge flop and put the company in severe debt and risk of bankruptcy. They put a new CEO in place to keep the company from going under.

The CEO slashed expenses and was able to increase income enough to pay down about 40% of the $40 bil in debt from 2017 to now. The price has reflected the risk of going under still. As the company has successfully restructured, the price has been moving up because the risk of bankruptcy is diminishing rapidly.
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