Ann: Phosphagenics Arbitration Award Issued, page-141

I had hoped that POH and its shareholders would receive a well-deserved break, but it wasn’t to be. Such is dispute resolution; such is life. My commiserations to all long-term holders, large and small. Good luck, whether you’re staying or leaving now.

The Board said they were “very disappointed” with the outcome. “Devastated” is a more accurate description for my reaction to this worst-case scenario outcome that took so long to be delivered.

I am not going to blame Ross Murdoch or the Board. In my opinion, the events that occurred thrust them between a rock and a hard place.

Nor should I probably be surprised that the system that has previously found award delays of between 2 and 10 years to be acceptable would find the TPM/daptomycin development and commercial “efforts” of Agila and Mylan to be acceptable.

If it is awarded costs and can’t recover them, I won’t be too concerned for Mylan. As I have previously pointed out, Mylan has always been in a no-lose position. Under its Sale and Purchase Agreement with Strides, it’s likely Mylan will be able to recover its legal fees from escrow funds.

From my personal perspective, it’s tempting to give up on this risky sector after what’s been a shocker year, but, after consideration, I don’t intend to. I enjoy the research. Besides, I’ve worked really hard in recent years to shake off a life-long parental voice that warns me of imminent disaster at every step I take.

I’ll keep moving forward.