John, They printed your letter above mine. Yours is presented as "fair" support for their coverage. Your letter is "pro" and mine is the opposing view.
Email to the Editors: Opposing Views on Agouron Coverage;
9/29/97 8:32 PM ET
TSC Fair on Agouron
I am certain that such a fair-non-biased organization such as yours was only reporting what the editor believed was news regarding Agouron. Your "exclusive" full day coverage of the small study of Viracept is very important to the success of this company. I do not believe this sensational "exclusive" major headline story was a plant for some influential shorts.
In the event Agouron presents very favorable data at ICAAC and specifically presents data that is the complete opposite of the small study you have already covered, I am certain you will devote the same sensational headlines regarding this information. I know you would based on your professional, non-biased reporting. It would be very suspicious if you didn't.
-- John (received 9/29/97)
I like the previous caption on mine that appeared on thestreet earlier.
Email to the Editors: Angry About Agouron;
Now it is the "opposing" view to yours.
9/29/97 4:28 PM ET
TSC Sensationalistic on Agouron
I am very disappointed at the sensational headlines your reporter chose to give to a questionable study that apparently was slipped into a late-breaker session at ICAAC: EXCLUSIVE: "Agouron Study Shows Resistance Problems for Viracept."
To me it is David vs Goliath all over, with Goliath being the large pharmaceuticals, hedge funds, and short sellers, pitting every rumor and incomplete scientific study against David, aka Agouron. Agouron now has 26-27% market share of the protease inhibitor market, and Viracept has only been on the market since February. Merck's market share has dropped since Viracept was introduced, as Viracept is as effective and is easier to take and has less side effects. Are there really studies available that show that Crixivan is more potent than Viracept, as the article says? Where are these references? Then why is Crixivan losing market share and Viracept gaining?
Studies being presented at this ICAAC are focusing much attention on compliance, or adherence to drug regimens. Viracept appears to have a superior profile as far as efficacy, potency, tolerability, and ease of use (according to analysts).
I found it strange to constantly hear all the accolades that were bestowed on Warner-Lambert, when their anti-cholesterol drug Lipitor started taking market share from Merck and Bristol-Myers. Now Agouron has succeeded in taking 26-27% of the market share in the protease inhibitor market and no one on CNBC or anyone mentions it. Strange how Wall Street seems to have it in for Agouron. What about all those rumors of "aggressive accounting procedures" that surfaced immediately when Agouron showed a 90% earnings surprise last quarter?
Perhaps the author of this article was not aware of the other studies about to be presented that directly contradict this study. It seems overkill to give this article the headline chosen, when the article admits that the study was "open-label," that it was not double-blinded or placebo-controlled, and that patients were taken off Viracept later than any doctors would recommend, making it difficult for any patient to respond to any drug. The article also admits that the study is not definitive and that it is small (8 patients reported). Physicians are quoted who do not agree with these findings. The author does not present any of the other side, and does not mention other abstracts that are SCHEDULED that completely contradict this study.
Is someone trying to give the over 6 million shorts a chance to cover before data is presented that shows Viracept in a favorable light? So many rumors, so much manipulation on Wall Street. It is disappointing to the small investor (unless you are short), and it must be very frustrating for Agouron.
If it really turns out that Viracept does not have a more favorable resistance profile, or that it is not as effective as Crixivan, that is a different story. But this sensational story has hardly shown this and certainly has caused the stock price to drop.
Until today, I have recommended your site to many people, and have enjoyed Cramer's wit, opinions, and honesty.
-- Margie (received 9/29/97)
They just don't get it, do they?!! |
