Biotech Values

[Biopharm investor]

SGP layoffs

Layoffs are painful under any circumstances, but I really feel for the laid off employees of SGP (and MRK) in light of the fact certain key officers of both companies sold millions of dollars worth of stock in mid 2007 when the stock prices were double their current value and and the ENHANCE study results were known to some at the time (at least the lead investigator has gone on record saying the study's results were ready to be presented at the time the insider sales occurred). What an amazingly fortunate coincidence for SGP's EVP of global pharmaceutical sales that she just happend to sell over $40 million of SGP stock in April/May 2007 and the ENHANCE study's lead investigator said he could have presented the study's results as early as nine months prior to their public release in January 2008 (i.e., as early as March 2007). What a lucky gal eh?

Same goes for other officers that sold in the spring/summer of 2007. I'm sure they all sold without having had any information that ENHANCE had failed so completely and miserably on all endpoints.

And I guess some SGP and MRK shareholders can't be too thrilled with that amazing coincidence either.