Prophet,What has Peter Cook done for BTA shareholders that could...

Prophet,
What has Peter Cook done for BTA shareholders that could justify more than doubling his executive remunerations since he became CEO? He kept putting his foot in the mouth – is that the kind of jaw dropping performance of a first grade CEO?

IF ever there were reasons to settle with GSK, 2006 was the best ever. Despite ZERO marketing activity, the pandemic orders for Relenza was many many times more than GSK production capacity. As a matter of fact, GSK was publishing negative news on Relenza in its defence of BTA’s litigation. It was only the threat of governments (especially the Indian Government) to over ride the Relenza patent that forced GSK to increase production capacity.

The declining Pandemic Stockpiling sales is not restricted to Relenza alone as the total market as fallen to less than 10% of its peak. As I posted earlier, Peter Cook the genius announced that Relenza sales will not decline like Tamiflu and hours later, GSK reported a 60% drop! A bumbling idiot’s performance or a genius?

Quote:
- Had BTA pursued action with GSK and incurred further legal costs (i.e. $20 million per year) until trial completion (2009-2010), say another $40 million. Even if BTA won, however was awarded a reduced amount than they were asking, say $250 million based on courts opionion of the worth of damages. Now keep in mind from that $250 mill reduce by future legal costs ($40 mill) and legal costs to date ($40 mill). $170 mill after legals. Then deduct royalties received to date as they would have to have been repaid (i have not calculateed this figure) but lets say $120 mill. So you end up with $50 mill but in another year and a half or two years. And not guaranteed;

What is the repaying of GSK royalties received to date about? Even IF GSK win, there is no such thing as repaying the royalties!

GSK’s legal costs will run into 100’s millions. In fact in legal circles this is a plus for “nuisance value” when one has a strong case against a Giant like GSK. In the unexpected case that BTA loose, GSK has no way to recover 100’s of million from a company capitalise at $90M. This nuisance value is worth at least $50M by itself!

And Peter Cook the genius settled for $20M, days after he received free Biota shares!