JNJ takeover

This is one of the stupidest things written on this board (and that is saying a lot). If the press already had details they would have released something, the current news cycle would have demanded it (scoop even if just saying "negotiations" is better than sitting on it).

 

What do you expect from a moron. Press has nothing.

 

Cum all over your face!

 

Typical comment one would expect from an IRA!

Continues to reinforce that Amgenites have absolutely no class, and when faced with facts they return to their comfort zone -- obscene, sophomoric rants!

Now you know why the New Brunswick Management Team has no interest in retaining you once we take over in 2Q16.

 

See you next POA Meeting

 

Smell me lucky charms!

 

Some posts said news coming out late nov and early December

SB said watch for signs of working over the holidays

Someone said timeline was accurate

Conclusion: contradicting statement resolved to watch and wait

 

Is A Fraud Poser !!!

 

JnJ to buy Abbvie over the holidays

 

JNJ is not ethical my Amgenites


Risperdal is a billion-dollar antipsychotic medicine with real benefits — and a few unfortunate side effects.

It can cause strokes among the elderly. And it can cause boys to grow large, pendulous breasts; one boy developed a 46DD bust.

Yet Johnson & Johnson marketed Risperdal aggressively to the elderly and to boys while allegedly manipulating and hiding the data about breast development. J&J got caught, pleaded guilty to a crime and has paid more than $2 billion in penalties and settlements. But that pales next to some $30 billion in sales of Risperdal around the world.

In short, crime pays, if you’re a major corporation.

Oh, and the person who was in charge of marketing the drug in these ways? He is Alex Gorsky, who was rewarded by being elevated to C.E.O. of J&J. He earned $25 million last year.

This tale is told in a devastating 58,000-word epic by Steven Brill that is being serialized on The Huffington Post. Some has already been covered in The Times and other papers, or in Senate investigations and innumerable court decisions, but it’s still wrenching to read the comprehensive account of how a company put profit above everything and then benefited handsomely for doing so.

The story begins when J&J’s previous antipsychotic medicine ended its patent life, so sales plunged as generics gained market share. In 1994, J&J released Risperdal as a successor, but the Food and Drug Administration said it wasn’t necessarily better than the previous version and in any case was effective primarily for schizophrenia in adults. That’s a small market, and J&J was more ambitious. It wanted a blockbuster with annual revenues of at least $1 billion.

So J&J reinvented Risperdal as a drug for a broad range of problems, targeting everyone from seniors with dementia to children with autism.

The company also turned to corporate welfare: It paid doctors and others consulting fees and successfully lobbied for Texas to adopt Risperdal in place of generics. This meant that the state paid $3,000 a year for each Medicaid patient taking it, rather than $250 a year for each, Brill says.

Building on that, J&J reached out to Omnicare, a company that provided pharmaceutical services in nursing homes. The two companies cut a deal so that Omnicare doctors would prescribe Risperdal, and the profits would be shared with Omnicare. (Yes, that’s called a kickback.)

Even though Risperdal wasn’t approved for the elderly, J&J formed a sales force, called ElderCare, with 136 people to market it to seniors. The F.D.A. protested and noted that there were “an excess number of deaths” among the elderly who took the drug.

J&J seems to have shrugged. It was making vast sums, and the F.D.A. didn’t have teeth.

At the same time, J&J was also expanding into another forbidden market: children. The company began peddling the drug to pediatricians, so that by 2000, more than one-fifth of Risperdal was going to children and adolescents.

In 2003, the company had a “back to school” marketing campaign for Risperdal, and a manager discussed including “lollipops and small toys” in sample packages, Brill says.

One challenge was that a J&J study had found that Risperdal led 5.5 percent of boys to develop large breasts, a condition known as gynecomastia. J&J covered this up, Brill says, quoting internal documents.

I asked J&J and Gorsky for comment. In particular, I wanted to understand why an executive who presided for years over conduct that the company conceded was criminal had been elevated to chief executive.

Gorsky declined to comment, and a company spokesman, Ernie Knewitz, didn’t really want to have that conversation. Knewitz did say the company “vehemently” disagrees with Brill’s take, denies a cover-up and considers Risperdal a useful drug with real benefits.

He’s right: Risperdal is a good drug that helps people. But it was marketed too broadly, and the system failed to protect consumers.

Brill calculates J&J may in the end have to pay a total of $6 billion in settlements for its misconduct. But he estimates the company made $18 billion in profits on Risperdal, just within the United States (on $20 billion in domestic sales, and there was $10 billion more in sales abroad).

Last week the Appeal of Conscience Foundation, an interfaith organization, announced it would honor Gorsky with an award as a “man of integrity” and a “corporate leader with a sense of social responsibility.”

So even though the company was caught, criminality paid off, for the company and for executives.

That’s why we need tougher enforcement of safety regulations, and why white-collar criminals need to be prosecuted (as Attorney General Loretta Lynch has promised will happen).

Risperdal is a cautionary tale: When we allow businesses to profit from crimes, we all lose.

 

How childish IRA's have become, now believing that...

"Our CIA is better than your CIA"

 

Heard you have a small pen15 buddy. I bet your wife loves the mail man

 

Looks like I have to take the low road and respond to your stupid post with an IRA like comment...
"Actually, my wife loves your wife!"


Your typical rant continues to support the notion that IRAs like you are the lowest form of life.

One last IRA like closer...
"Do your parents have any children without a brain disorder?"

Now, please go and take your medicine

 

Amgen will be sold to RIFF all the losers at Amgen who post ridiculous shit on this board

 

Please review my earlier posts about the acquisition. As I mentioned, this will not be a merger of "equals". The JnJ acquisition is still in the works, with a targeted close in 2Q16. There will be significant scrutiny on this deal given some of the overlapping TAs. One of JnJ options will be to sell of any assets that may get regulators antsy.

This is not a matter of "if". It's all about the "when".

I wish I could provide some better news and more detailed updates, but legal and corporate development are playing this one close to the vest. It is not out of the question that Amgen might make an acquisition on its own. Any deal that we make will need to be announced prior to the JnJ deal becoming confirmed. Hence the "cone of silence".

-SB

 

I believe the last post was the "real" SB. Not only does SB write well, but none of the people who post crazy rants here would be able to copy the writing style.....they are just not that smart.

That said, I would like to thank SB for the info. Over the last couple of years I relied on this information, (Yes, sad situation to rely on cafe pharma over my employer) made small changes at work and home and was then better equipped to face the next Amgen upheaval. SB was mostly on target EVERY time.

SB, any updated to when the announcement could be made? If they are shooting for a Q2 close, would the news come prior to the shut down? I would think it would have to come very soon if the plan is to close by Q2.

If this deal is made internally, as soon as the announcement is made things will become more cut throat than the are now. Time to prepare again.

Please continue to post timelines if you have them SB.

 

Thank you for that vote of confidence. As I learn new facts, not rumor, I will update. While there is no reason why an announcement would not be made prior to the shutdown, one can speculate that it is not the ideal time for Street reaction on the stock price, -SB

 

I call BS on this -SB. The current stream of BS posted by this imposter -SB does not have the TO corporate office acronyms, attitude or verbiage typically spewed by "those that know". In TO corporate there is a language and sound bite set all its own. This recent -SB is an imposter given the lack of details and specifics - too many hypothesized generalities. Also this imposter does not have the Finance/M&A/CEO Staff/insider knowledge as previously communicated by the original -SB. So I call BS. The original -SB is rightly and smartly long gone from Amgen.

 

C*M all over face feel so good!