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proverbialwisdom

(4,959 posts)
Wed Apr 20, 2016, 03:58 PM Apr 2016

3/16/16: Bill Ackman lost $1B in one day on Valeant

http://www.usatoday.com/story/money/2016/03/15/billionaire-just-lost-1b-troubled-company/81809048/

Bill Ackman lost $1B in one day on Valeant

Kaja Whitehouse, USA TODAY
3:54 p.m. EDT March 16, 2016


NEW YORK--Hedge fund billionaire Bill Ackman vowed to take a "much more proactive role" at Valeant Pharmaceuticals (VRX) amid a stunning stock decline that cost him more than $1 billion in a single day.

The drug company's stock closed down 51% to $33.54 a share Tuesday on disappointing financial news, including a warning that a late filing could lead to bond defaults that may hurt the company's ability to borrow money. The loss shaved a whopping $35.50 off each share.

For Ackman's Pershing Square entities, which own 30,711,122 Valeant shares, that translates to a paper loss of $1.09 billion.

The loss is even greater when taking into account Valeant's 63% decline this year. Ackman starting buying Valeant in February 2015 at a cost of $161 a share, he said in a recent presentation.

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FICTIONALIZED MESHING OF $/MEDICINE on brilliant SHO BILLIONS in 'Magical Thinking' episode 11, season 1:
(perform page search for FDA)

https://www.fanfunwithdamianlewis.com/?p=10462
http://transcripts.foreverdreaming.org/viewtopic.php?f=534&t=26404
http://www.vulture.com/2016/04/billions-recap-season-1-episode-11.html

(where government regulators do the right thing)
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3/16/16: Bill Ackman lost $1B in one day on Valeant (Original Post) proverbialwisdom Apr 2016 OP
Every cloud has a silver lining Doctor_J Apr 2016 #1
Pharmaceuticals, banks and public health or skewed incentives? proverbialwisdom May 2016 #2
Tufts University Study Pegs World Vaccine Sales at $40 Billion by 2020. proverbialwisdom May 2016 #3
There's one born every minute. nt bemildred May 2016 #4
Investigative journalism, ugly reading. proverbialwisdom Jun 2016 #5

proverbialwisdom

(4,959 posts)
2. Pharmaceuticals, banks and public health or skewed incentives?
Thu May 5, 2016, 11:30 AM
May 2016
https://www.theguardian.com/business/2016/mar/17/gsk-chief-andrew-witty-to-leave-drugmaker-pay-package

GSK chief Andrew Witty to leave drugmaker

Julia Kollewe
Thursday 17 March 2016 05.35 EDT


GlaxoSmithKline’s chief executive, Sir Andrew Witty, is to leave the drugmaker next March after collecting a £6.7m pay package last year.

GSK said it had started looking for a successor to the 51-year-old, who joined the company in 1985 from university and has been at the helm since 2008.

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Moncef Slaoui, chairman of GSK global vaccines, an important part of the business, was the second-best-paid executive with a total package of £5.2m, up from £3m, while Simon Dingemans, the chief financial officer, saw his increase to £3.2m, from £1.9m.

Witty has come under pressure to hasten GSK’s turnaround following sliding profits in recent years. Last month, he fended off calls for a break up of the pharmaceuticals, vaccines and toothpaste multinational. He reiterated on Thursday that the company would return to core earnings growth this year, following a 15% decline last year.

Richard Parkes, an analyst at Deutsche Bank, said: “The decision will allow him to step aside at a high point following the company’s expected return to double digit earnings growth in 2016. We continue to be confident the company will meet or exceed these near-term targets driven by delivery on acquisition synergies and strong performance of its HIV business.”

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https://www.theguardian.com/business/2013/mar/06/glaxosmithkline-pay-chief-executive-fine

GlaxoSmithKline pays chief executive £4m despite mis-selling fine

by Rupert Neate
Wednesday 6 March 2013 14.34 EST


GlaxoSmithKline paid its chief executive, Andrew Witty, almost £4m last year, despite the company paying out a $3bn (£1.9bn) fine to settle claims that it tricked and bribed doctors into prescribing dangerous antidepressants to children.

The drug company also boosted the value of Witty's pension pot to £13.7m, and will allow him to collect a further bonus of £452,000 if he hits targets.

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The $3bn fine was over allegations GSK mis-sold drugs and gave doctors trips to Bermuda if they agreed to write extra prescriptions. Glaxo said: "The fine related to settling matters from the past, before Andrew was CEO. The board was supportive of efforts to resolve this litigation to enable the group to move on."

proverbialwisdom

(4,959 posts)
3. Tufts University Study Pegs World Vaccine Sales at $40 Billion by 2020.
Fri May 6, 2016, 09:46 PM
May 2016

Not a word about vaccines in the article on Merck's quarterly sales (5/5/16): http://www.reuters.com/article/us-merck-co-results-idUSKCN0XW0YK

http://www.fiercepharma.com/vaccines/merck-gsk-sanofi-and-pfizer-will-vie-for-crown-tight-vaccines-race-by-2020-report

Merck, GSK, Sanofi and Pfizer will vie for crown in tight vaccines race by 2020: Report
by Eric Sagonowsky | Jun 18, 2015 10:42am


Anyone expecting one vaccines maker to pull away from the pack by 2020 had better reconsider. The top four companies--Merck ($MRK), GlaxoSmithKline ($GSK), Sanofi ($SNY) and Pfizer ($PFE)--will come within less than one percentage point of each other in total market share, a new report says.

The companies will each pull in between $7.25 billion and $7.49 billion in vaccines revenue, according to EvaluatePharma's World Preview 2015 report. Each will hold about 21% of the market, the report says.

Over the period, EP's analysts expect GlaxoSmithKline to grow the most in the space, from its 2014 sales of $4.49 billion to 2020 sales of $7.44 billion, jumping two spots in the rankings and ending up at No. 2. Pfizer, with 2014 vaccines sales of $5.84 billion, will haul in $7.25 billion, but fall two spots to No. 4, it predicts.

EP anticipates Merck remaining in the top spot in 2020 with $7.49 billion in 2020 sales, while it pegs sales for the third-place company, Sanofi, at $7.34 billion for the year.

Some of the numbers can be explained by GlaxoSmithKline's newly intensified focus on vaccines and the multibillion-dollar asset swap it recently completed with Novartis ($NVS), sending off its oncology portfolio and gaining the Swiss company's vaccines stall. In EvaluatePharma's report, Novartis--expected to land in 5th place by 2020--is the sole company in the top 10 expected to see negative growth, falling from 2014's sales of $1.53 billion to 2020 sales of $979 million.

To stay competitive and in the mix, Pfizer has made a series of moves while riding the sales of the world's best-selling vaccine, Prevnar 13, which is expected to pull in $5.83 billion in 2020. By comparison, second-place Gardasil will reach 2020 sales of just $2.52 billion, EP estimates.

Last year, Pfizer purchased Baxter's ($BAX) marketed vaccines portfolio for $635 million to bring in a meningitis C vaccine and a jab against tick-borne encephalitis. It followed up in January by purchasing Switzerland's Redvax for access to a preclinical human cytomegalovirus vaccine candidate.

Expected to snag 6th place behind the pharma giants is Emergent BioSolutions ($EBS), which EP thinks will notch the highest CAGR in the group at 13%; it's expected to grow sales from $246 million last year to $506 million in 2020.

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http://www.thevaccinereaction.org/2015/07/tufts-university-study-pegs-world-vaccine-sales-at-40-billion-by-2020/

Tufts University Study Pegs World Vaccine Sales at $40 Billion by 2020
by TVR Staff
Published July 17, 2015


A Tufts University study projects vaccine sales to hit $40 billion by 2020.
Five companies now account for more than 80% of the market.
Demand for vaccines will be fueled by need to decrease health care costs and find a cure for cancer.

The value of the world market for vaccines was estimated at $33.1 billion in 2014(1)—up from $24 billion in 2009(2, 3) and $5 billion in 2000.(3) A new study conducted by Tufts University’s Center for the Study of Drug Development (CSDD) in Boston, MA forecasts annual sales of vaccines around the world will reach $40 billion by 2020.(4)

According to a summary of the Tufts CSDD Impact Report, “Worldwide vaccine sales grew at an average annual rate of 11.5% from 2005 to 2014, nearly double the 6% average annual growth rate for total pharmaceutical sales.”(5)

The report states that five companies account for more than 80% of total vaccine sales, and that the number of vaccines undergoing clinical trials increased from 102 in 2002 to 250 in 2013.(5) A Tufts CSDD press release notes, “Clinical trials are currently being conducted on new vaccines that aim to treat and prevent more than 40 infectious diseases, including historical and emerging scourges, such as dengue fever, malaria, HIV, and Ebola.”(4)

The top vaccine makers include American firms Merck & Co. and Pfizer Ltd., which each held 22.2% revenue share of the market last year; Sanofi SA of France, 19.9%; GlaxoSmithKline plc (GSK) of the United Kingdom, 17%; and Novartis AG of Switzerland, 5.8%.(6) Together, these companies accounted for 87.1% of the revenue from vaccine sales.

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References:

1 Markets and Markets. Vaccines Market by Technology (Live Attenuated, Toxoid, Conjugate, Subunit, Synthetic, Dendritic Cell, Inactivated), Type (Preventive, Therapeutic), End User (Pediatrics, Adults), Disease Indication (Infectious Disease, Cancer, Allergy) – Forecasts to 2019. January 2015.
2 Taylor N. Vaccine market worth $52bn in 2016. in-PharmaTechnologist.com Jan 18., 2010.
3 Pistilli M. Global Vaccine Market Experiencing Substantial Growth. Life Science Investing News Nov. 27, 2013.
4 Tufts Center for the Study of Drug Development (CSDD). Vaccine Products in Development Have Tripled over Last Decade. July 9, 2015.
5 Tufts Center for the Study of Drug Development (CSDD). Vaccine products in the R&D pipeline have more than tripled since 2005. Impact Report July/August 2015; 17(4).
6 Statista. Top 10 pharmaceutical companies based on global vaccine revenue market share in 2014 and 2020.

May nothing interfere with all that "public health" and private money-making.

http://www.skepticalraptor.com/skepticalraptorblog.php/merck-mumps-motions-whistleblowers-the-actual-story/

Merck whistleblowers – mumps and motions – updated
2016/01/31
Dorit Rubinstein Reiss


In August 2010 Stephen A. Krahling and Joan A. Wlochowski (“the relators”), former Merck virologists and often called “Merck whistleblowers,” filed suit in the name of the United States – a so-called qui tam action, where the prosecution shares any fines or penalties with the two virologists – against Merck.

They claimed that by faking effectiveness testing, Merck misled the United States government as to the effectiveness of the mumps component of its MMRII vaccine (a vaccine which protects individuals against mumps, measles and rubella). In 2012 a clinic and two MDs filed a class action against Merck claiming violation of the Sherman Act – monopolistic, anti-competitive behavior resulting from the fraud – and violation of various state laws. (U.S. v. Merck and Chatom v. Merck). The suits were handled together.

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Update 2 (31 January 2016)

The court ordered that discovery, the process of gathering evidence, must be completed by 1 March 2017, over a year from now. The court also ordered that expert discovery needs to be completed by 31 October 2017.

Even further into the future, other motions must be filed by 20 December 2017. A motion for class action certification must be filed by 1 March 2018, two years from now. And finally, the defendant, Merck, must file it’s opposition to class certification by 5 April 2018.

And this is just to file motions, it’s not even the start of a trial. If these accusations have any merit whatsoever, we are many years from ever getting any type of decision. Any claims that these accusations are true are wrong.

RELATED: http://www.fiercepharma.com/vaccines/whistleblowers-accuse-merck-of-withholding-info-on-mumps-vaccine
http://assets.fiercemarkets.net/public/mercksuit2.pdf
http://blogs.wsj.com/pharmalot/2015/06/08/merck-is-accused-of-stonewalling-over-effectiveness-of-mumps-vaccine/
http://www.reuters.com/article/health-vaccine-idUSL1N0YQ0W820150604

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