what am i missing, page-61

Question about Orbi

The original loan started 14/03/2014 for 60M$.
Orbi would have looked at the books then - everything probably looked OK back then.
He was going on about getting the best deal for over a year, if I remember right.
So Orbi was looking over UNS probably back as far as early mid 2013.
I would suggest things started going sour late 2014 or early 2015 - delays by Sanofi and Hikma I feel started it. The rest is history now, although we will never be told the story.

The pharmas sure are not in any hurry to ramp up (stuff ups, delays, who knows). The Dr talked of ramp up over 2016-17 and the Orbi/Amgen announ seems to indicate Amgen won't be taking supply for 18-24 mths. So a far slower ramp than we all thought back 2014/15.

JMO but that is the reason the SP isn't going anywhere real soon. Have been saying it for the last 2 years - it is about production now - any deal signed today will not effect the SP until near production, 2-4 yrs away. Cheers