The Tercica dog and pony show has been fooling US investors and bankers for years -- why does it surprise you that it can still fool others?
Regarding pricing. At the current prices, TRCA cannot be making anywhere near enough to run its organization. They have essentially given all their future profits to Ipsen in exchange for cash upfront. Not a bad deal given that the drug has issues.
Ipsen wanted a US presence to help them navigate the FDA for approval of Somatuline. Their previous attempt was met with an approvable letter. Scarlett has now successfully directed two NDAs through the FDA, Increlex and Somavert. This is Ipsen's motivation. Ipsen has not successfully launched a drug in the US; this is important to them and Scarlett's team has the resume to match their needs. Ipsen now has "a first class research organization" to meet their goal of becoming a world-wide force in Endocrinology. They also have the right to sell IGF in Europe which might bring some revenue and will compliment their growth hormone franchise. I suspect that the Genentech connection also proved important as Ipsen currently sells Genentech's growth hormone in Europe.
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