Torben, I try to apply price discipline when buying. I just love to clip that last point as extra profit. However, you were right on INCY and in general. If you need to clip a percentage to feel good about the buy you shouldn't be buying.
I have already said why I have not invested in VIroPharma. Why do you think it has had a big move in the last few days.
Did you see this on NABI. We are talking South Florida.
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07/11 5:30P (DJ) =DJ FDA Warns Nabi For Alleged Lapses While Handling Blood
WASHINGTON (Dow Jones)--Nabi (NABI), a Boca Raton, Fla., blood products
company, received a warning letter from the Food and Drug Administration for
allegedly not following proper procedures during collection and storage of
blood products at its Albuquerque, N.M., facility.
The letter was dated June 20 but released Tuesday.
Investigators who toured the facility between March 15 and March 30 said the
center didn't follow its own procedures. As a result, units of blood that
tested positive for viruses and were intended for quarantine or destruction
were stored with non-infected units in freezers.
Also, donors who had indicated they had lived with people infected with
viruses, such as hepatitis, weren't prevented from donating, according to the
FDA.
Nabi Chief Executive David Gury told Federal Filings Business News Tuesday
that he was surprised by the warning letter since the company hasn't received
one in a long time,
"They're not unusual, but they're not something you want to have," Gury
said.
FDA officials also said the center's record system wasn't adequate to screen
donors. "Since your system is a manual system, it is difficult, if not
impossible, to manually search all the records required to insure that
duplicate records exist," the letter stated. Donors who've had name changes
would present a particular problem, it added.
One donor was allowed to donate after presenting an out-of-state driver's
license as identification, which is against the center's policy. The donor
later tested positive for hepatitis C, the letter said.
The FDA letter said Nabi had responded to the warning by stating that the
company had re-trained some employees and conducted reviews of operations. The
agency further said similar problems had been seen during a 1997 inspection
and the company assured FDA officials then that corrections would be made.
Gury told Federal Filings that the company has sent a second response to the
FDA adding that he felt the situation was "well taken care of." He said the
company operates 56 plasma centers across the country, so problem at one
center isn't a major issue. The plasma extracted from the blood collected at
the centers is generally sold to other drug manufacturers.
Nabi was most recently in the news for its study on nicotine vaccine NicVax,
for which it received a grant from the National Institute on Drug Abuse.
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