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Monday, March 12, 2007 8:07:21 AM
I have come to the conclusion after several years that the BUSINESS side of management has left something to be desired. They either were too arrogant or short-sighted to see all possible scenarios that could have played out. Thinking that DNA could not have rolled over them in court was sinful.
Now they have to settle for a deal that because of their defeat in court is less than fruitful for INSM.
They are now an R&D company with no power because they ceded it to TRCA-DNA. Read the settlement prelminaries. Even after either one would opt to enter into an agreement on any indication they would assume all commercialization powers if or after FDA approval.
I thought wrongly that this management was better than that. The science was the key and still is but unfortunately they gave it away. I am not at all happy but the way INSM played their cards there was no other type of settlement they could have reached. The science will surely go forward but INSM will be just a pawn of DNA. TRCA is a non-descript entity but they also have a lot of control over future indications INSM will develope.
The BS about a partnership with DNA is not what this is about. It is a dictatorial relationship by any stretch and in the end the arrogance of INSM gave the science away to a predator and a dupe.
I have sold nothing but my expectations have been diminished significantly because of ineptitude. Maybe they should have fought on and possibly another pharma would have recognized the science and bailed them out. For those who think this is a good deal for INSM you had better reread this settlement.
I will keep all my shares because of the science but I am disappointed in INSM management. I am glad none of them were with me in the central highlands in the early 60's.
If I sound like I am trashing INSM I am not. They have done wonders with this science but it only takes one massive blunder to chuck it away to someone else.
I am still long and will see this science come to full fruition. I have jsut lowered my expectations regarding this management team. They should have never put themselves in this situation to begin with.
Recent INSM News
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