Biotech Values

[DewDiligence]

Nice catch…

I generally consider stuff like this more consequential than most posters on this board and other biotech boards.

Here’s an instance where WPI was holding its first CC since Amphastar’s FDA approval. WPI could simply have said, “We are not including Lovenox in our 2011 earnings guidance because there is a preliminary injunction that prevents us from launching.”

But Paul Bisaro (WPI’s CEO) didn’t say that; instead, he said, “Given the recent court decision, Lovenox continues to be excluded from our guidance for 2011.”

I seriously question whether WPI ever intended to launch this product under any circumstances. The body language suggests to me that WPI is a reluctant partner who would like nothing better than to have Amphastar reacquire WPI’s rights to the product.