If you or I sold something that was not what it was supposed to be, what would happen to us?
Yet for players in the Multiple Sclerosis stock market, money can be made win, loose or draw.
It makes you wonder …
Not long ago Acorda sold “overseas” rights:
“… Acorda has had operating losses since inception … In order to sustain operations beyond 2010, Acorda sold overseas rights to Fampridine SR to Biogen Idec Inc. in July of this year and received an upfront payment of $110 million …” (Will Acorda Walk The Talk?)
Today it seems to be abandon ship:
“ … Food and Drug Administration issued a negative opinion that questioned the safety and effectiveness of the company's multiple sclerosis drug...." (Fampridine-SR) Acorda shares plunge on negative FDA review
Does it seem to anyone else that too much Multiple Sclerosis news is reported by the financial media?
Caregivingly Yours, Patrick Leer... UPDATED 10/15
"Acorda Therapeutics received the support of a Food and Drug Administration panel for its multiple sclerosis drug, increasing confidence in the drug's approval and sending shares up 53%..."Acorda Shares Rise On FDA Panel Vote Supporting MS Drug
web site: http://caregivinglyyours.com/
videos: http://www.youtube.com/daddyleer
musings: Patrick Ponders ...
Patrick,
ReplyDeleteI was thinking of posting on this but just hadn't gotten to that part of my day yet. I read the announcement, copied from Bloomberg.com, that the FDA might not approve Fampridine-SR in the MSRC's Newsfeed (UK) this morning. Notice that Bloomberg incorrectly equates Fampridine with the upcoming disease-modifying oral drugs expected out next year. http://www.msrc.co.uk/index.cfm/fuseaction/show/pageid/1310
Yesterday, I received the following email (below) which basically asks for patients who have been on Fampridine-SR to ask to speak to the FDA Panel next week.
I agree that sometimes it's easier to get 'straight' news from the financial sector than even the drug company itself. Notice how this email links to their announcement back in August and doesn't mention any doubts regarding approval at this time.
I wrote A LOT about Acorda and Fampridine last summer, so much so that the President/CEO requested a phone conference with me. That was interesting. (see my blog for old posts).
Here's the email:
To Members of the MoveOverMS.org Community:
We're pleased that you chose to receive information about MS and announcements from the MoveOverMS.org sponsor, Acorda Therapeutics. Learning more about the latest MS research can help you and your treatment team make informed health choices, and being proactive about your health is an important part of maintaining your well-being.
Next week, the U.S. Food and Drug Administration (FDA) is hosting an Advisory Committee meeting to review data on a potential new MS treatment, Fampridine-SR. The Advisory Committee will provide recommendations to the FDA about whether to approve Fampridine-SR.
The meeting will be held on Wednesday, October 14 and is open to the public. Anyone who attends the meeting can request a speaking slot to address the members of the Advisory Committee panel during the open comment section of the meeting, which is tentatively scheduled for 1:00 p.m. This is an opportunity for members of the MS community to voice their opinions about how walking impairment affects their lives and the need for new MS treatments.
The meeting will take place at the Inn and Conference Center, University of Maryland University College (UMUC), Marriott Conference Centers, 3501 University Blvd. East, Adelphi, MD, and begins at 8:00 a.m. You can view a press release from Acorda Therapeutics with more details about the Advisory Committee meeting at:
http://phoenix.corporate-ir.net/phoenix.zhtml?c=194451&p=irol-newsArticle&ID=1324043&highlight
Stay well,
The MoveOverMS.org Team
Not surprising. Hundreds of thousands of scared, suffering people = money in the bank until there is a cure.
ReplyDeleteCapitalism punishes failure, which is why it has no place in medical research.