More Videos
SPECIAL REPORT
MOST SHARED
- GE, Comcast Complete Deal Over NBC Universal: Source
- Keeping America Great
- Kohlberg Kravis Bidding for Morgan Stanley's CICC Stake
- New Incentive To Improve... Your Home, That Is!
- Australia Parliament Rejects Carbon Trade Laws
- Toyota Takes Lead Position in Canada in November
- Hyundai's US Auto Sales Jump 46% in November
- Unemployment to Peak at 10.5%: Moody's Economist
- 8 Stocks to Gain on Obama's Afghan Plan: Analysts
- BofA On Proposed Changes In The Housing Bailout Program
- The Future of The Media Landscape
- November Auto Sales Muddle Along
- Busch: What Obama Won't Say Tonight
- Stick with Equities—Avoid Emerging Markets: Laszlo Birinyi
- Pfizer Chomps On A Carrot
- Predictions 2010: Technology
- Obama to Send More Troops; Seeks Afghanistan Exit
- GM Removes CEO Henderson; Whitacre is Interim Chief
- Who Were the Biggest Winners And Losers This Year?
- Look Ahead: Markets Count Down to US Jobs Report
- GE, Comcast Complete Deal Over NBC Universal: Source
- US May Raise Rates Before Jobs Recover: Fed's Plosser
- Super Fantasy Christmas Gifts of 2009
- Cramer: Watch Tech Stocks Wednesday
- Stocks Likely Don't Need Santa to Keep Rally Going
PHARMA'S MARKET VIDEO
RSS FEED
Pharma's Market
Text Size 
 |
Yoda |
At the end of his speech in the opening session, the outgoing president of the organization played a "Star Wars" clip with the sage saying, "Try not. Do or do not. There is no try." He was trying to make a point about the ACC's role in forging healthcare reform.
But many--especially, I suspect, folks at Merck [MRK
Loading...
()
] and Schering-Plough-[SGP
Loading...
()
] --would argue the ACC tried, but did not do when it comes to the promised "reasoned" panel discussion of the controversial Vytorin/Zetia test results.
It was standing room only in the great hall for the "showcase session," although the fire marshal shooed away people who were standing four and five deep in the wide doorways. They came to hear the data presentation and then an airing-out of the results by an ACC handpicked panel of experts.
But the second part never happened. One of the experts, Dr. Harlan Krumholz, launched into prepared remarks during which he suggested that Zetia could be nothing more than an "expensive placebo." Those are his words. Another panel member put a brief button on Dr. Krumholz's speech and that was it. No discussion. No q and a. The room, packed with by my estimate about 6,000 people, emptied out in a hurry.
Damage was done.
Credit Suisse analyst Catherine Arnold writes in a research note to clients this morning, "...the expected 'panel discussion' had almost no 'discussion', rather it seemed like a (Zetia)-bashing session...." Because of that Arnold now believes a Vytorin/Zetia "recovery" will require patience and as a result she's taking a scalpel to her earnings estimates for both companies.
Credit Suisse has done and wants to do more investment banking for MRK and SGP. And Arnold or someone on her team lives with a Schering employee.
May the sales force be with Merck and Schering-Plough.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes