Biotech Values

[gfp927z]

Dew, Concerning Soon-Shiong, he's quite an operator. Some Morningstar comments from last year -

>>> Abraxis is not for the faint of heart, according to Morningstar equity analyst Brian Laegeler. The firm was formed in early 2006 through the combination of American Pharmaceutical Partners and privately held American BioScience. The merger appears to have benefited only the controlling shareholder Patrick Soon-Shiong at the expense of minority shareholders. Now, Soon-Shiong has plans to reverse the combination, giving one share of APP to shareholders for each share of Abraxis. Laegeler likes APP's injectable drugs business, though Soon-Shiong plans to saddle it with considerable debt in the breakup. Laegeler maintains concerns about Soon-Shiong, whose own brother sued him once for fraud and self-dealing. <<<