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Biotech / Medical : SFCC provides outsourced drug development research services
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To: Skywatcher who wrote (15)11/18/2005 12:09:43 PM
From: Skywatcher  Read Replies (1) of 29
 
From Yahoo....and a credible poster
Conference Call Summary...
by: painterguy_us


1.There has never been a death or serious injury at an SFCC clinic. Bloomberg lumped them in with other companies.

2. Individuals in question who said they took part in multiple studies at the same time could not have participated in multiple studies at SFCC because SFCC fingerprints everyone to prevent this from happening. Bloomberg implied they took place at SFCC. If they did take place in multiple studies it would have been with multiple companies and SFCC has no way to control that.

3. Subjects were not coerced into giving statements. They came back to SFCC because they wanted to participate in more studies and SFCC told them they could not because of the statements they made to Bloomberg about multiple trials. According to SFCC the participants insisted that Bloomberg had misquoted them and insisted on giving their statement to SFCC. After taking their statements SFCC informed them that they were still not eligible to take part in trials for breaking confidentiality agreements. No one was coerced or threatened.

4. NASDAQ informed the company that an unusual amount of shorting activity took place right before the Bloomberg articles came out and an investigation is underway.

5. Representatives from Sen Grassleys office have asked to interview SFCC about the drug industry in general and about general practices mentioned in the Bloomberg article. SFCC was told they are not under investigation and there is no official Senate Investigation.

6. SFCC has never recieved an FDA warning letter.(Serious Violations)

7. SFCC has never received an FDA follow up letter. Means after FDA inspections they have made notifications of minor things that needed to be fixed and SFCC always fixed the condition before the next inspection.

8. SFCC is requesting an extension of its credit line so it is able to buy back more stock at these levels. Many anaylsts in the meeting recommended they do this instead of making aquisitions because they felt there was no justification for the price being this low.

9. Order backlog is up 13 million in one month. Verbal promises for more contracts have also increased. Articles have not affected SFCC customer confidence.

10. Organic growth rate for next year is estimated at 30% by SFCC.
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