Vivus: into single digits Message Board

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Biotech / Medical : Vivus: into single digits

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To: MIKE DUBIS who wrote (811)	8/15/1998 2:10:00 PM
From: Mark A. Stang	Read Replies (2) of 1016

Leland=Liability The Titanic was a great ship. Sure, they shouldn't left space above the bulkheads in the "watertight" compartments, but if management had done their jobs right, the Titanic rather than the Queen Mary might be anchored at Long Beach today. I decided that Leland is a moron (in terms of management ability) the day I learned that VVUS budgeted $1 million for a 60 second SuperBowl ad. NBC's rejection of the ad turned into a serendipitous minor PR coup, but didn't change the fact that Leland is a moron. MUSE is an asset of VVUS. I assume that the patent rights to MUSE are worth at least $100 million, so VVUS has a liquidation value of at least $3/share. I don't know what VVUS' book value is right now, because the cash position must be in flux. But I know for sure that Leland is the company's largest liability. He is the Philip Frost of ED. What do you suppose he does all day to "earn" his salary?

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