Biogen CEO Comments on Tysabri
 

Please read this link and see what James Mullen, CEO of Biogen was quoted as saying about Tysabri and PML.

http://www.bizjournals.com/triangle/...7/daily17.html

This has to be a little disturbing to say the least.

Harry

I'd rather drink the worm cocktail than take Tysabri after reading that.

Heck, I'd drink the worm cocktail that they're testing right now if it would make the numb symptoms go away.

Evidently, he doesn't want much Tysabri sold anymore...it would be interesting to know what evidence he has to base his remarks on...

Anyone check with the SEC to see if he has filed to sell any large chunks of Biogen stock in the last 45 days?

He is likely to have more evidence then anyone else would. ;)

Someone on another forum mentioned execs selling off shares recently, but there are always a lot of rumors floating around (that are untrue!).

They have always warned that they didn't have any idea whether additional PML cases would surface over time, so perhaps this is just the same old message.

Cherie

Stocks happen to be my cup of tea....take a look:

http://www.secform4.com/insider-trading/875045.htm

They've been selling consistantly making millions.

Infact; Institutional ownership is huge, many making millions off this company and insiders made 49 different trades just in the past 3 months!

http://www.nasdaq.com/asp/Holdings.a...&selected=BIIB

EDIT: Chart: They must have known back in December that they had a bad feeling about it. Granted, the market has been bad, but strong companies are surviving. They've lost over $30 a share since Dec 07.

http://finance.yahoo.com/q/bc?s=BIIB

Sorry, they spilt 2 for 1 in December....just keeping with truth.....

I am and always have been a big advocate for Tysabri. My comment was tongue in cheek...any executive, member of the board of directors must by law file with the SEC their intent at least 45 days in advance of selling stock in their company...

As I originally wanted to post, and now will, just because Mr Mullen is the CEO doesn't mean he knows everything that is going on within the company.

CEOs are sometimes the last to know about negative things that are going on within their company, but are still responsible for what happens on their watch.

I still wonder what motivates CEOs to say some of the things they say in public....afterall, there have been NO cases of PML and Tysabri since it's re-release. If he is going to make blanket statements like that then he should at least back it up with data. This is irresponsible on his part and/or the journalist reporting it if the "whole story" was not reported.

As is more likely the case, we, the public and the patients, will never know the whole story. :(

James Mullen knows what needs to be known within Biogen and especially with Tysabri. Although there are no additional cases of PML that have been reported, that doesn't mean that there hasn't been. Rumours abound that other issues with Tysabri are brewing but until they are confirmed I will not say what they are.

Bottom line...I don't now and never have trusted what Biogen has told us from the beginning about Tysabri. I just hope that the MS patients that are using it don't end up with more problems that they already have with the disease.

Harry

Not always true Cheryl...sorry :o....If a CEO or other exec wants to dump hundreds of thousands, or millions of shares, they must file their intent as you describe (Usually they will include in that statement what price they will sell at....usually at a much higher price than is currenly being quoted). However; they can sell at anytime in small batches, but it must be reported to the SEC the day they do it. When an Exec sells shares and then the investors find out, it usually causes the investors to freak out and dump what they have, all in the name of fear.

Brings the price down, and then everyone starts jumping in again....its a visious circle.

I'm evaluating the company and its stock, not Ty....From my research, Ty is the best bet for those with confirmed MS...and if I were to get such a dx, I'd be on the Ty train myself. It dosen't stop the Execs from making millions off of the patients as you can see by the links I posted. This would hold true for many companies tho, not just BIIB. (Biogen)

PS: Also note that Mullins is not one who sells frequently; a good sign in any company. They know whats going on with their products, the question is do they believe in them, dispite the knowledge. Every drug has side effects; as consumers we have to weigh those out and make the right choice for ourselves :) The CEOs have to come forword with pertinent information, even if its scary, in order to protect the company from suits. I'd guess thats what was behind this statement.

I read that article about Tysabri a couple of days ago. Interesting, the street did not react to those comments. BIIB or ELN did not take big hits(other than the market in general). I think the market anticipates a case of PML, because the original black box warning stated a 1 in 1000 chance.

Also ,I think there was alot of (insider) selling activity in BIIB the first part of the year because of a possible buy out of BIIB, which didn't happen.

I do agree that it was not one of the smartest statements to make, I hope he didn't have any reason to throw out that warning.

My earnest hope is that Tysabri continues to be the drug that so many people are having great sucess with!! We don't want any bad news!!!

Thats right, I do remember hearing that nurse! Its also a bear's market so anyone who could make a buck should do it. I think Exec's have every right to sell. They have needs too (like a new yacht :rolleyes: or a child getting married, or any reason under the sun). I personally don't fret when an exec sells, but I am wary of massive and consistant selling. Price manipulation by corporate is a bad thing for small investors who lose everything overnight.

Thanks for the reminder on the possible sell...and its important to remember that stocks go up and down, for many reasons, at the drop of a hat. Biogen has a good reputation and as a result, likely that's what forced them to do a 2for 1 split. It usually settles the stock down and makes it a safer investment, removes the violent swings, which were obviouse looking at this chart, it was growing way to fast!

Off to chores :cool: