I'm not going to let this go.
Here is Cook's recent remark that stimulated the latest major drop:
"While future royalties are difficult to forecast, it should be noted that the June quarter has typically been the lowest of the year, due to the approaching summer season in the Northern Hemisphere".
Now, here are the royalty results Quarter by Quarter for the last 3 years.
GSKQ3 GSKQ4 GSKQ1 GSKQ2
Sep-06 Dec-06 Mar-07 Jun-07
$5.4m $7.3m $16.0m $11.0m
Sep-07 Dec-07 Mar-08 Jun-08
$4.5m $12m $4.4m $0.4m
Sep-08 Dec-08 Mar-09 Jun-09
$1.9m $1.46m $32.3m $8.9m
Sep-09 Dec-09 Mar-10 Jun-10
$24.1m $32.6m $9.1m
June 07 Royalties - 2nd highest of the year
June 08 Royalties - lowest of the year
June 09 Royalties - 2nd highest of the year
Now I have gleaned this info from picking through quarterly announcements over the last 4 years. I may have made a big mistake and ask someone to double check that my figures are correct.
If this data is correct, Cook has mislead the market and shareholders with his last bungled statement. He must retract this statement immediately! If he does not retract, Damian Lismore is the CFO - will he come out and apologise for the mistake?
Is this worthy of reporting to the ASX?
Now just to add a bit on Glaxo.
Here is the statement by Andrew Witty on their latest quarterly results at http://www.gsk.com/investors/reports/q12010/q12010.pdf
"Chief Executive Officers Review
With continued sales growth in the first quarter, I believe GSK is demonstrating sustained business performance and that we are making good progress in delivering our strategy.
Our sales growth is multi-sourced with good performances in our Pharmaceuticals business, driven by vaccines, respiratory and dermatology products and in our Consumer Healthcare business. In all of these areas, sales were especially dynamic across emerging markets where we continue to gain market share.
Group turnover grew 13% aided by sales of pandemic influenza products (pandemic vaccine and Relenza)".
In the third paragraph of his review, Witty claims that influenza products aided the group turnover and then he proceeds to report the poor Relenza royalties (way down on expectations).
Something stinks to high heavens here - these CEO statements of Cook and Witty just don't add up...Biota's price has been manipulated...
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cook's data is blatantly incorrect
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