Saturday, August 22, 2015

One Billion Dollars! O Valeant! Sung to tune of O Canada!

Shortly after the FDA approved Addyi (the "pink pill"), Canadian pharma company Valeant announced it would buy Sprout for $1 billion. Was it a good buy?

Firstly, where does a Canadian pharmaceutical company come up with one billion dollars?

Secondly, how long will it take to recoup that and other costs associated with selling Addyi and start to make a profit?

Obviously, Valeant is more confident in the drug’s success than is Public Citizen's Dr. Sidney Wolfe, who said the drug’s approval “recklessly disregards the worrisome risk information” and who predicts Addyi will have to be taken off the market after enough women have been seriously harmed by the “irreversible, or life threatening injuries” caused by the drug (read "Wolfe Disapproves, but 'Wolf' Approves FDA Decision re ADDYI").

Wolfe et al have a good track record predicting which drugs will eventually be pulled from the market due to safety issues. Read, for example, "Sydney Wolfe's 7-Year Drug Rule/Itch: Don't Prescribe or Imbibe Any New Drug for First Seven Years After FDA Approval."

O Valeant!
Not born in the USA!
True investor love in all thy sons command.
With bulging pocketbooks we see thee rise,
The True North strong and FDA free!
From far and wide,
O Valiant, we women stand on guard for thee.
To keep our Addyi strong and worry free!

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