Replies to post #78235 on Biotech Values

[kris_kade]

Now with this kind of new uncertanity, IDIX may fall below 3.

Most of the recent bump in its PPS was possible due to reasonable expectation of making decent money and now it's all up in a toss between bullish or bearish..

I am all the more certain IDIX will raise another pipe.

[randychub]

Dew - Is there some type of time limit on this?

NVS does not intend to sell any of its IDIX shares on the open market, even though NVS had the contractual right under the prior agreement between NVS and IDIX to have its shares registered for resale. Under the new agreement, NVS has waived its registration rights, and hence NVS’ shares of IDIX could be sold only as part of a major transaction such as a merger or buyout.

-Randy

[tinkershaw]

Dew,

I have tried to respond to your PM to me but for some reason my membership is not sufficient. I will need to get it straightened out and get back to you.

Thanks.

Tinker

[mcbio]

Re: IDIX/Potential Suitor

• If NVS’ equity stake falls below 50% due to a new IDIX financing, IDIX will for the first time become a buyout candidate for a prospective suitor other than NVS.

If not NVS, who do you see as the most likely suitor? I was going to say that GSK makes a lot of sense given the partnership for IDX899 and how acquiring IDIX would give them a nice entry into the HCV space. But, I recall GSK acquiring GNLB not so long ago for just this reason. They could still have an interest though.

[DewDiligence]

New IDIX Director

Pursuant to the amended NVS-IDIX relationship inked in May, which entitles NVS to name three of the nine directors* on IDIX’s BoD (#msg-37998991), NVS has designated Anthony Rosenberg as its third director:

http://sec.gov/Archives/edgar/data/1093649/000114420409030761/v151412_8k.htm

Here is some biographical info on Mr. Rosenberg:

http://bioasia.bio.org/opencms/bioasia/2007/program/bio_AR_Oct_06.pdf

Rosenberg has been head of Business Development and Licensing at NVS since 2005 and is a member of CEO Dan Vasella’s inner circle. He joined Sandoz (NVS’ predecessor company) in 1980 in the UK, where he held various leadership positions in sales and marketing, business development, and strategic planning. In 1994, Rosenberg moved to Basel, Switzerland (NVS’ HQ location) as product manager for Clozaril. He became head of Global Marketing Primary Care and later was head of the Transplant and Immunology business unit.

During Rosenberg’s tenure, NVS has been among the most active Big Pharma in licensing and M&A. Rosenberg has overseen major licensing transactions in the respiratory, dermatology, CNS, transplant, ophthalmology, and antiviral areas.

Rosenberg has a BSc in biology from University of Leicester (UK) and an MSc in physiology from University of London.

NVS’ two other designates on IDIX’s BoD are Robert Pelzer, general counsel of NVS’ US subsidiary, and Steven Projan, head of NVS’ R&D team in infectious diseases.

*Contrary to what was posted previously, the BoD is not being expanded from nine to ten directors; rather, Anthony Rosenberg is filling the existing open slot on the nine-member BoD.