Port, If there are any behind the scene actions it could only be Swiss Bank Accounts movements. Notwithstanding the $100M settlement sum, 2006 was the most opportunistic time to settle with GSK to push Relenza.There were panic buying by governments for pandemic stock piling with Tamiflu unable to satisfy demand. GSK would not have to be dragged out of bed to supply Government demands for Relenza. At that time GSK did not have a flu vaccine and the pandemic stockpiling demand was going from strength to strength. A settlement would have seen GSK increasing manufacturing rapidly instead of being forced to do so.
Mr Peter Cook and his fellow directors’ performance can be seen by what they did for BTA shareholders. He DOWN GRADED the 2007 profit forecast to “at least $18M” and weeks later BTA reported a $21M profit.
On 24 Oct 2007, after Tamiflu sales plummeted, Mr Peter Cook publicly stated that Relenza will not suffer the same fate as Tamiflu. Less than 24 hours later, the GSK report was released and it showed Relenza sales plummeting by 60% from the previous quarter.
If one cannot even take what Mr Peter Cook announced publicly, it is certainly foolhardy to believe there are good news behind the miserable $20M settlement. Should one believe GSK will shelf their vaccine and push Relenza very hard?
The only thing that is sure is there will be more shareholder capital dilution when Peter Cook get more free shares converting his options at zero exercise price.
BTA Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
