Ann: Comment on research report, page-160

To add my 2 cents worth to all the good analysis before.

I looked at the 4 people mentioned in the report as 'insiders leaving' Acadia.

Doug Williamson left after 14 months, however, all his previous positions were mainly short-term term apart from his long stint at Eli Lilly. Since then, he seems to have sold his experience in brief stints with various pharma companies.

Kathie Bishop now has her own consultancy business. Her stay at Acadia was longer than most of her previous jobs after 2009.

Austin Kim is a bit of a stayer. Had a long stint with Teva Pharmaceuticals and 6 years at Acadia. I can't track down what he is doing next. The Acadia announcement said he is off to pursue other interests. Who could blame him.

Patrick Martinson, a senior business manager left after 9 months but his track record is of short-stay jobs too.

What have I learned from this? It seems like pharma people move jobs often, or at least most of these ones do.

Acadia has over 500 employees so to cherry-pick 4 personnel and come to the conclusion they are leaving because of a failing drug is a long bow to draw. I remember a long time ago watching a documentary on TV about how Apollo 11 didn't land on the moon and it was a hoax, this programme convinced a large proportion of watchers that they didn't through a biased and almost propagandist approach. It was one of the most self-serving things I have ever watched but it worked. Much like the drop in share price on Friday.

The report could have areas of validity - who knows - only Acadia in a few days can refute this report but I would say the author of the report has tacked on this 'insiders leaving' bit as a further scare tactic but I call bullshit on it.

The report is so biased it loses a lot of credibility.