Thoughts and observations after Thursday's conclusion of the J.P. Morgan Healthcare Conference:
Moreover, San Francisco was filled with biotech people from just about everywhere. The Union Square hotels surrounding the Westin St. Francis hotel, home base for the J.P. Morgan conference, were taken over by other sell-side investment banks, venture capital firms, biotech companies and various industry hangers-on, all holding their own meetings.
This is a typical hallway conversation from the week:
"Hey, how are you?""Oh man, what a brutal year." "Terrible." "But dude, the weather out here this week is unbelievable!" "I know, I just want to be outside."
Seriously, we had a very good meeting, and I give Martin a lot of credit for that. I've certainly had my share of things to say about Martin and about the company's experimental Alzheimer's drug this year, so what I wanted to do Wednesday was shut the heck up and hear about Elan from his perspective. Here are a few tidbits: Elan will remain an Ireland-based company, in part, because of the country's low corporate tax rate. Martin and Playa are big believers in the multiple sclerosis drug Tysabri, and there are no plans to sell the drug to Biogen or anyone else.
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