What skill can Peter Cook offer to the new company as CEO? And then as a non executive board Director?
Is it for his wealth creation skill? Peter Cook had maintained that he does not want to talk up the market to allow the sp to rise steadily instead of volatility. The shareprice had fallen from more than $3 during the pandemic steadily down to the sixties cents!
Is it for his ability to increase royalty revenue? Peter Crook reaped 0.5 million free optionsfor normalising GSK relationship and praised GSK for the one-stop-shop marketing GSK flu vaccine using Relenza! Shareholders are still suffering for the non visible marketing and Rlenza have NEVER gain any market share from Tamiflu. While Peter Cook is smiling with his free options, whose wealth did he create? Shareholders' wealth?
Peter Cook bought 2 companies to smoothen future product revenue. As a result of Peter Cook's incompetence, Relenza patents run out before Inavir can make it to market! Inavir getting to market in Japan has nothing to do with Peter Crook. Sankyo's license was signed long before we have the misfortune to have Cook getting into BTA.
Is it for Peter Crook's non existing knowledge of the antiviral market as shown by these 2 events: Event 1: After Gilead/Roche reported a sharp drop in Tamiflu pandemic sales, in the 24 October 2007 AGM, Peter Cook told shareholders the factors causing the drop in Tamiflu sales do not apply to Relenza – Quoting from second last paragraph of 2007 Annual General Meeting Addresses”: There is therefore no reason to assume that the down turn in volumes being experienced by Roche with Tamiflu should be experienced by GSK with Relenza.
Less than 24 hours later, on 25 October, Peter Cook reported a 60% dropped in Relenza sales to the ASX and Quote: Biota CEO, Peter Cook commented, “The Q1 figures are consistent with Biota’s expectation that GSK will sell its installed capacity over the year. These are the summer quarter sales in the northern hemisphere and are typically the lowest of the year”.
Event 2: In 2009 on PertNow newspaper, PC said "When we went through the avian influenza event four years ago, every time there was a report of a goose or duck dying in Europe our stock price went up." and "To assert, right now, that this (swine flu) will cause a massive rise in sales, well, that class of response is erroneous and lacks understanding."
Less than a week later, on 04/05/2009 Peter Cook announced "Important GSK initiatives to new influenza A (H1N1) strain" - that GSK was increasing production to cope with the massive rise in demand.
Why is Peter being rewarded in the new company?
BTA Price at posting:
67.5¢ Sentiment: None Disclosure: Held
