Hi folks,
Plot thickens. I was following up on this story from the street.com saying Gensia had tried this. Research to this point suggested Gensia would be launching soon. Check this paragraph from a November 16, 1998 press release:
"Hetastarch is a nice addition to Gensia Sicor's product portfolio and
will fit in well with our current distribution agreement with Baxter
International Inc., who already has contracts with the major hospitals," said Michael Cannon, President, Gensia Sicor Pharmaceuticals.
Note the following email exchange between me and Baxter . . .
Dear Mr.Russell:
Thank you for your interest in Baxter International Inc. In response
to your inquiry regarding Hetastarch, Baxter PPI is not marketing this
product. They can be reached at phone number 800-667-0959 or FAX
877-702-3580.
Regards,
Internet Liaison
IV Systems
Baxter International Inc.
______________________________ Forward Header __________________________________
Subject: website inquiry
Author:
^DF__THE__CENTER__FOR__ONE__BAXTER_at_DF4003@ccmailgw.mcgawpark.baxter.com at
Internet
Date: 4/21/99 9:30 AM
PIC IL,
Could you please take a look. If this isn't yours, please let me know.
Thanks,
Chris
______________________________ Forward Header __________________________________
Subject: website inquiry
Author: Lucy Navas at WG1004
Date: 4/20/99 2:29 PM
Received the following inquiry from the IVS Product directory. I could
not find this type of description, unaware of it being our product, looked
in the Product Service Directory and had no luck. Can you help?
Lucy
_______________________________________________________________________________
Subject: website inquiry
From: rockrat@prodigy.net at Internet
Date: 4/15/99 01:29 PM
The following message was sent via the IV product directory request form on
Baxter's external website:
NAME: Tucker Russell
E-MAIL: rockrat@prodigy.net
USEFUL? somewhat
PROFESSION: Investor
MESSAGE:
It might be nice to see products linked to more general names and to
indications. For example, I am trying to find info on a hetastarch in sodium
chloride solution. It's for the treatment of hypovolemia. I'm virtually
certain you folks market this stuff (competes with Hespan from DuPont), but try
as I might, I couldn't find on the website. Entering Hetastarch into the search
field yielded no results on the I.V. Products page. Can you give me any info on
how this product is doing in the marketplace?
Many Thanks, Tuck Russell
**********************************************
So three people at Baxter have never heard of the product!! Did I somehow manage to find the wrong division of Baxter? Anyone feel like calling those 800 numbers? I'll do it in a while if no one volunteers. But it looks like the thing has been quietly dropped. This Due Diligence stuff is starting to get interesting.
It looks like one competitor may have dropped out, leaving only DuPont and Abbot, the original players. And Abbot is bringing in the hot young star BioTime. Not that the star's move is that hard to imitate. But BTIM seems to have a big regulatory lead with its second generation product, if Gensia's is not even in the running.
I'm with you Jim, shorting looks a little less compelling right now. I think BTIM is going to sell a few hundred million worth. Still, I don't feel compelled to buy just yet. The street is going to wait until there's some indication of what the market is. So quarterly reports of revenues is what'll drive this puppy now. Until then, I see it trading in a narrow range.
Do you shorts have a price target and time frame?
Cheers, Tuck |
