This is in response to a very challenging environment. I would expect broader cuts to be announced within the sales force, marketing, general and (administration) as well as RD over the longer run.
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Approximately 50 of the cases are filed in the federal court, where standards for scientific evidence are far more rigorous.Jami Rubin
Are they going bankrupt No. But they had a string of bad news like I've never seen before. Bad news has become a norm to the company.
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We do this all the time. We pay them for their time. Sometimes they do conference calls. Sometimes they prepare slide shows.
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They're not going to make anything, but neither will they lose anything because they're not selling in those countries anyway. So it's a good public deed on their part, which is why I think most of this is public relations.
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My overall feeling is that this group has been massively out of favor for the last four years, but we've actually had a lot of good news in the last couple of months that should bring them into favor.
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