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GSK's vaccine operating profit, margin dive on Novartis fold-in

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From the article:"But on the company's conference call, CEO Andrew Witty said the deal brought in more losses than expected, which the company pinned on a "higher than anticipated cost base.""

My first thought is, "due diligence" is not a golf course in Scotland. Unanticipated can also mean not researched.
 




Anonymous said:
From the article:"But on the company's conference call, CEO Andrew Witty said the deal brought in more losses than expected, which the company pinned on a "higher than anticipated cost base.""

My first thought is, "due diligence" is not a golf course in Scotland. Unanticipated can also mean not researched.
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They didn't do their HW on what they were getting or checking the financial health and status of multiple projects. What GSK based their projections on was projects/analysis that NVD performed on their own internally through the integration teams. No questioning of what was reported went on from the GSK counterparts. You had too many people on the NVD side of the integration team who were desperate to impress the right people at GSK and have secure jobs that they reported on only rosey good news scenarios. If you're GSK and reading this, I bet I know exactly where the higher than expected cost base came from and I guarentee you it came from Development. Am I right?? Lots of fraud, hidden spend and questionable accounting of costs and approvals.
 




The SEC should investigate and while we are at it how much did AW, DC, and the board make in bonuses off the sale of Oncology and buying of Novartis vaccines - I would bet they made 10s of millions but would like to see it in writing.
 




Anonymous said:
From the article:"But on the company's conference call, CEO Andrew Witty said the deal brought in more losses than expected, which the company pinned on a "higher than anticipated cost base.""

My first thought is, "due diligence" is not a golf course in Scotland. Unanticipated can also mean not researched.
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Yep. Another Big Pharma looked closely at NVS vaccines and walked away very quickly. Apparently Moncef is again responsible for sloppy decisions, just like the colossal $720 million he is responsible for wasting on Sirtris. His brilliant strategy of trusting external scientists more than internal ones.
 




Anonymous said:
Yep. Another Big Pharma looked closely at NVS vaccines and walked away very quickly. Apparently Moncef is again responsible for sloppy decisions, just like the colossal $720 million he is responsible for wasting on Sirtris. His brilliant strategy of trusting external scientists more than internal ones.
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I do not understand why Moncef is not back in Morocco making tagines. Willfully ignorant. He can't deal with women, unless he is on the corporate jet with his girlfriend.

GSK is doomed unless they change ASAP.
 








Anonymous said:
I do not understand why Moncef is not back in Morocco making tagines. Willfully ignorant. He can't deal with women, unless he is on the corporate jet with his girlfriend.

GSK is doomed unless they change ASAP.
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What little is left of his brain resembles a sad, preserved lemon... goes great with goat tagine!
 












The NVS oncology senior leader flat out said Moncef didn't know anything about oncology. They didn't trust his numbers and we're guessing at certain things..he should be gone!
 




If monself had a sliver of decency or intellectual integrity, he'd tender his resignation immediately. Since he does not, and is mentally incompetent, he must be forced out, joining the other departed hack.
 




Anonymous said:
The SEC should investigate and while we are at it how much did AW, DC, and the board make in bonuses off the sale of Oncology and buying of Novartis vaccines - I would bet they made 10s of millions but would like to see it in writing.
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GSK didn't spend a penny to acquire NVD. It is widely accepted by analysts that Novartis over paid for GSK Oncology so GSK would then over pay for NVD so GSK basically got NVD for free. We got what we paid for but until we get rid of the costs it loses money. All their products are turds, the pipeline is a sewer and the science is totally bull shit.
 




Anonymous said:
GSK didn't spend a penny to acquire NVD. It is widely accepted by analysts that Novartis over paid for GSK Oncology so GSK would then over pay for NVD so GSK basically got NVD for free. We got what we paid for but until we get rid of the costs it loses money. All their products are turds, the pipeline is a sewer and the science is totally bull shit.
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Truth.
 
























Anonymous said:
The SEC should investigate and while we are at it how much did AW, DC, and the board make in bonuses off the sale of Oncology and buying of Novartis vaccines - I would bet they made 10s of millions but would like to see it in writing.
Click to expand...

Why should the SEC investigate? There was no fraud. GSK sold the oncology business for a HUGE amount of money, which more than offset what they had to overpay for the consumer and vaccines businesses. Secondly, try reading the public disclosures if you want to know the bonuses. The overall pay for the executives went down this past year. Further, GSK pays executives a lot less versus other companies.
 




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