| Yes, I listened to the entire CC. I no longer have any trust in this management. Just days ago they put out a press release that management knew no reason for the fall in the stock price. They knew a lot of reasons. Prialt was on fast track, got an approvable from FDA, and then there was a long delay which was supposed to be because ELAN wanted a broader label. Never was there a hint that a new trial would be required (add 18 months from date new trial starts). Also, they give us no information as to why registration trials were inadequate. They cover the AZ vaccine issue at the CC saying that they are investigating. Well and good. But it is only in the questions from analysts that we find out that there are additional patients with inflammation, one of which is in Zurich. Then they downplay the importance of the sideffect (without describing it specifically), then say AZ is a terminal disease so sideffect is not so important, and then conclude with new drugs are progressing through preclinicals and should be ready to file to start clinical trials in 18 months. That, of course, would be a Phase I. 1792 is in Phase II now. It was weasely and unimpressive. The new, never reported off balance sheet entities that change the numbers significantly. The "growth of product sales" for 2002, of which $250MM is based on products that have not even been purchased yet. I can't go on. This is a shell game that finally came to an end. Geaney dumped all bad news in this one CC. I doubt that anyone will ever invest in this company again based upon trust of management. I certainly won't. No company will purchase ELAN because it has second rate products and only Antegren coming down the pipeline. The rest of the future products are completely unknown because the management lies. I would be happy to join a class action against this company and against each of the managers personally, starting with Geaney. Bill, I don't know how you feel about this but if you're as upset as me, I'd be happy for you to be our lawyer if you wanted |
