Coats destroyed Lexicon and any hopes it had for success.

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Should have never tried to market this themselves. Fighting big pharma was a losing proposition. Exton seems to understand this. Sota is a better drug than the other SGLTs but there is much more to this equation Coates and Raymond didn't seem to understand this, Partnerships (and perhaps acquisition eventually) are the path forward for SOTA, 9211 and others from library. But these significant business missteps hurt the sales force who took the leap, investors and the business...will take time and smart business appropriate strategic next steps to dig out of this hole.
 












Coats was a disastrous hire from the get-go. His only industry experience was on the sales/commercial side, so to expect him to be able to manage a development-stage company and know how to prepare for and successfully launch a product was sheer insanity. Responsibility for all of this falls on the board. He and the company didn’t fail overnight. Where was the BOD over the years while Lexicon was losing 90% of it’s market cap on his watch?
 






anonymous said:
Coats was a disastrous hire from the get-go. His only industry experience was on the sales/commercial side, so to expect him to be able to manage a development-stage company and know how to prepare for and successfully launch a product was sheer insanity. Responsibility for all of this falls on the board. He and the company didn’t fail overnight. Where was the BOD over the years while Lexicon was losing 90% of it’s market cap on his watch?
Click to expand...
The BOD paid him over $1 Million a year for 10 years for this performance.
 
























not just Coates but the med director, research director, regulatory...hype is wonderful when you don't have to produce
Lexicon was a Con, Dupe, Deception...
from their vast library of knockouts they are left with last century science and no route to the land of profit
 












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