Replies to post #128366 on Biotech Values

[DewDiligence]

Re: More musings on Amphastar’s phantom launch

The whole "claim" made by Amphastar lawyers apropos the sales of aL is a complete farce and deserves to be slammed into the ground IMHO… I can't wait for late next week when they have to present more of their "story" to the court. Certainly continues to be the most intriguing story since I have been investing in biotech stocks.

I agree. In all the years I’ve been investing in biotech stocks I had never seen anything quite like the performance of Amphastar’s lawyer at last week’s TRO hearing. I don’t think Amphastar’s lawyer from Proskauer Rose (a big-name law firm I know very well) was knowingly lying about the phantom launch, but rather was fed a bullshit story by Amphastar’s principals in a desperate attempt to avert a TRO.

This leads us to the question: Why did Amphastar try so hard to avert a TRO? There are two reasons I can think of:

• It would have been somewhat easier for Amphastar to argue at the next hearing that the Judge should not impose a brand new TRO (or PI) than it will be for Amphastar to argue that the TRO already in effect should not be continued (or converted to a PI).

• The TRO strengthens MNTA’s hand in any settlement negotiations.

Regards, Dew