Insmed, I don't see anyone going to jail
The judge in her ruling screwed Insmed royally, but Geoffrey Alan made a deal which self imposed an injuction.
Phil Young was a great asset, he is gone and so is the entire commercial team which was beating tercica in the market.
The judge made ruling which could have been appealed in fact the judge validated a patent which was already invalidated by an appeals court.
Geoff Alan claimed that they now have a partner. If they had good data in Muscular dystrophy they didn't need a partner they owned the whole product and it would have sold itself.
Geoff Alan made a settlement which kept his half a million dollar salary comming in to the expense of the other valuable employees. And now the kids will be on a twice a day drug with more side effects.
Geoff Alan has always been the weakness in owning the stock, and now he is still there. If they raise money at 20 cents it makes no difference to him. He will continue to get his salary.
He and the board I am sure will be sued. This settlement is so unconsionable it may be possible to waive their insurance protection and get some penalty to them personally.
There are many patent lawsuits and I have never seen a company self impose an injunction. Geoff Alan set a precedent.
I have not owned the stock for a while but I am very upset because Geoff Alan turned one of the biggest biotech drugs into a pile of garbage
Everyone looks at Genentech as having this great ethical behavior. Well taking iplex off the market and replacing it with Increlex should certainly put egg on their face. this certainly wasn't done with the children in mind.
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