Biotech / Medical : Momenta Pharmaceuticals Inc.
MNTA 23.35-0.2%May 21 5:20 PM EDTNews

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To: Rocky9 who wrote (2791)6/15/2011 3:53:28 PM
From: Jeffry K. Smith  Read Replies (1) of 3028
GREAT summary! I attended the meeting also, but in no way could I have written down/summarized things as quickly and as well as you did. It was hard enough for me to keep up with the speed with which Craig Wheeler speaks!

One expansion/clarification: you said "One shareholder commented that TEVA seems to get away with making statements that seem to have to support in fact". I don't remember my exact words, but I said something to the effect that TEVA repeatedly issued legal, but misleading statements. That got a laugh from the audience, which I appreciated, and got a "thumbs up" from the director sitting in front of me. I forget whether I was asking a question or making a statement at the time. Maybe you can tell me! :-)

IMHO, the Palo Alto guy was way out of line in a couple of ways 1) I don't think he initially identified himself, and 2) his use of the word "we" - as in "We want you to consider x,y, & z" (as you said, buybacks, dividends, etc.) - as if he was speaking for everyone. I guess he can report to his investors that he took his case directly to the Board, but given what I understand to be Momenta's situation, but his "presentation" sounded selfish and short-sighted.

It was my first meeting, and I came away very impressed.
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