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  • Calm After The Storm: Royal BAM Group Offers Value At The Bottom Of The Well [View article]
    Aug 29 11:30 AM | Likes Like |Link to Comment
  • Calm After The Storm: Royal BAM Group Offers Value At The Bottom Of The Well [View article]
    Well, you're certainly entitled to your opinion Enge. I would, however, like to point out that the Dutch government has been making the labor market more flexible, the pension system more sustainable (while already on of the most sophisticated in the world, ranked second worldwide last year), and has been actively stimulating the housing market to good effect along with the general trend of lower spending.

    Next to the pick up in housing, you're also seeing a recovery in household spending. The EC actually increased its Dutch economic forecasts for this year and 2015 because of rising investments and increased household consumption. Economic growth turned positive in Q2 2013 and projected to continue its momentum this year and into 2015.

    Despite the many difficulties Holland may face it should, lastly, be noted that the Netherlands still remains one of the most competitive economies in the EU. I think the country as a whole isn't doing too shabby all things considered..
    Aug 28 09:19 AM | Likes Like |Link to Comment
  • To Handsomely Beat The Market, Buy Petroamerica Oil With Both Hands [View article]
    Only slight worry with the 180 million CAD 0,75 warrants is PTA becoming a victim of its own success..

    CAD 0,425 today and climbing couple % each day. If we get several big buyers between now and October expiry it might just get interesting..

    BTW, great write-up VD
    Aug 26 10:01 AM | 2 Likes Like |Link to Comment
  • More on the Rosneft, North Atlantic Drilling deal [View news story]
    Long both ROSN.L and NADL and trust me, this is a great deal for both. Rosneft secures much needed equipment. NADL gets the partner of a lifetime, world's largest public oil co..

    Never underestimate the Russkies, they just do when others talk. Why do you think Tillerson wants to be big buddies with Sechin. The Artic is untapped gold..
    Aug 22 09:27 AM | 4 Likes Like |Link to Comment
  • Transocean: Short-Term Risks And Below Peer Group Upside [View article]
    If that's your logic, who cares about regular maintenance, upgrades, modification to latest spec or customer demands.. Age is what matters, nothing else. If everything was that simple..
    Aug 12 11:58 AM | 1 Like Like |Link to Comment
  • Transocean: Short-Term Risks And Below Peer Group Upside [View article]
    Anthony, I would just like to touch on the data points you mention..

    Firstly I believe contributors are currently tripping over each other in putting a lot of emphasis on the ratings downgrade by DB analyst Mike Urban. As I also commented in another article, confirmation bias is certainly a risk with individual analysts (as with investors), so I would always focus on the consensus recommendation as a more balanced starting point. Transocean is currently covered by 23 firms, with a consensus recommendation of Hold.

    Regarding the second data point you mentioned, RIG's Q2 earnings, you state the following: "As previously reported, in Q2, RIG beat consensus estimates, with $1.61/share in earnings. Earnings are, by definition, backward looking, and (in this case) were not that interesting to me (aside from progress on cost controls)"

    It's certainly not my objective to chance your view, as you're entitled to yours based on your own DD, and that's what makes a markets. But, if you go beyond RIG's most recent earnings surprise and view it in light of the last few years, you will notice a trend to be seen. For the last 5 quarters for example either they were on the money or had a pretty healthy earnings beat. Some indication on how a company is managed. More earnings and FCF is always a good thing.

    Earnings (per share) - REUTERS
    Quarter Ending Jun-14 1.12 (Cons Est) 1.61 (Actual) 0.50 44.39%
    Quarter Ending Mar-14 1.02 (Cons Est) 1.43 (Actual) 0.41 39.73%
    Quarter Ending Dec-13 0.73 (Cons Est) 0.73 (Actual) 0.00 0.58%
    Quarter Ending Sep-13 1.07 (Cons Est) 1.37 (Actual) 0.30 28.59%
    Quarter Ending Jun-13 1.08 (Cons Est) 1.08 (Actual) 0.00 0.34%

    I wrote an article on Transocean's value proposition on December 27, 2011 , 18 months after Macondo, and I personally think management has taken the right steps since that time to get the company back on track, returning to 'normalized' earnings, and in better shape for the future. All the while keeping a firm eye on the balance sheet in light of Macondo and the cyclical nature of this industry, of which management is keenly aware as discussed on several occasions throughout recent years, even when day rates were going through the roof. With roots tracing back to 1920 you wouldn't expect otherwise from RIG.

    One final recent data point that really should be noted is Mexico's decision last week to open up its energy sector, which will of course prove positive for (established) drillers and the overall demand vs supply picture
    Aug 12 05:36 AM | 2 Likes Like |Link to Comment
  • Transocean: Deutsche Bank Is Way Off [View article]
    "Mike Urban released his (sell) "recommendation" a couple days before RIG released its earnings!"

    He certainly didn't say anything during the earnings call to acknowledge Transocean's healthy consensus beat, the higher dayrates or reduced O&M costs.. Confirmation bias is a tendency to actively seek out and assign more weight to evidence that confirms your hypothesis, and ignore or underweigh evidence that could disconfirm your hypothesis...

    We will go next to Mike Urban with Deutsche Bank.

    Mike Urban - Deutsche Bank:
    So obviously you've talked repeatedly about continuing to high grade the fleet and moving away from the mid-water market but for the time being you do have those assets and continue to manage them, especially in the context of thinking about potentially monetizing them or selling them, if you do see some of the pressure that you talked about in terms of higher spec grade competing down. How you think about those assets in terms of your ability, your willingness to continue work from that kind of marginal profitability if it comes to that. In the past you might have stacked that kind of asset? Would you keep working there to maintain value for it and just how you think about those assets to the extent you still have them and as we see this market potentially grind lower in the short term?

    Steven Newman:
    Probably a really unsatisfactory answer for you Mike but it all depends. We will evaluate it on an asset by asset basis and when think we have an asset that is likely to survive this current downturn and be a productive and profitable asset coming out, we are likely to try and maintain the utilization on that rig. If on the other hand we think the asset truly is approaching the end of its life, we're likely to take a different decision and if the economics don’t support continued operation of the asset in the near term then we will make a decision to either try and scrap the asset ourselves or attract some kind of a third-party offer that would allow us to reduce our exposure to that kind of an asset. So, it all just depends on our long-term view of the asset and the fundamental thesis that this is a cyclical business and we will see some cyclical recovery in the future."
    Aug 9 08:35 AM | 3 Likes Like |Link to Comment
  • Transocean: Deutsche Bank Is Way Off [View article]
    I think the recent Q2 results, and as important the conference calls of ESV and RIG, should sufficiently reassure investors. It also shines proper light on the one-sided, limited questions the DB analyst asks, as opposed to some of the other analysts. Confirmation bias is very common among analysts, they're not unlike investors in that respect.

    Yes, there is increased supply between now and 2016, more uncontracted rigs. Yes, there is increased competition and lower pricing in certain segments due to IOC's and NOC's temporarily reducing CapEx. Yes, this is a cyclical business.

    No, it hasn't been and won't become a huge problem, for these two companies at least. They for one do have sufficient liquidity and flexibility, strong investment grade balance sheets, a focus on cost control. New, already contracted rigs being delivered and going to work. They have to put more effort in and indeed tenders are down, but all indicate you're talking about 12-18 months. Their share prices are already priced for (far) worse, including reduced dividends which won't happen.

    The 1.5 billion non-cash impairment charge of ESV spooked the market, because if the most responsible guy does it then RIG, DO, Noble will certainly be in the same boat. But once you read ESV's Q2 transcript you suddenly understand why the new CEO and board decided to do it now, and sheds light on the immediate benefit is and future benefits of doing it like this. RIG's reaction to an analyst question on ESV's charge is also important to read.

    I would advise every shareholder that feels rattled by the recent price action in drillers to read the Q2 transcripts of RIG and ESV, available through SA.
    Aug 8 11:13 AM | 6 Likes Like |Link to Comment
  • Update: Ensco Earnings [View article]
    Why would one possibly invest in Ensco, the world's 2nd largest offshore driller.. besides maybe 1) a highly rated management team with proven track record on modernization and profitable divestment 2) stable, growing earnings, 3) solid balance sheet with low leverage, 4) among the youngest fleets, 5) low, sustainable pay-out ratio, 6) 6% dividend yield @ $50 share price, 7) 8 new rigs for delivery by Q4 2016, of which 2 this year and 1 by Q1 2015.

    They just get on with doing their job well in this highly competitive, cyclical business, for all their stakeholders.
    Jul 31 10:55 AM | 6 Likes Like |Link to Comment
  • Update: Ensco Earnings [View article]
    Q2 EPS estimates were $1,32. Ensco beat by nearly 20%, coming in at $1.58..
    Jul 31 09:26 AM | 4 Likes Like |Link to Comment
  • NADL - North Atlantic Drilling secure commitment for six offshore units from Rosneft [View article]
    Rosneft is a juggernaut, so this whole investment and cooperation agreement is a big, big deal for NADL. Russia's arctic shelf will be developed by Rosneft, why do you think BP, Exxon, Eni, Shell, etc are all tripping over each other to work with Rosneft. Sanctions or no sanctions..
    Jul 30 03:07 PM | Likes Like |Link to Comment
  • Why BP Will Overcome Fears To Produce Long-Term Value [View article]
    The ruling was against the Russian government, their handling of Yukos. Not Rosneft / 20% Rosneft shareholder BP..

    Reuters) - Russia's top oil producer Rosneft said on Monday that it expected no claims to be made against the company in connection with a Hague court ruling that has awarded some $50 billion to ex-shareholders of defunct oil firm Yukos.

    Rosneft also said in a statement it was not a defendant in the case and that the ruling would not have a negative impact on its "commercial activity and assets".

    Rosneft bought the bulk of Yukos assets though auctions after the company was declared bankrupt.
    Jul 30 07:27 AM | Likes Like |Link to Comment
  • Iron's Free Fall Has Rusted Fortescue Metals [View article]
    Fortescue's growth story is completely intact, and they’re going to be producing a lot of FCF going forward. FMG has build a lot of credibility in recent years through the price swings in iron ore, especially after repaying $3 billion early and steps to lower debt costs. To cut transportation costs, they just ordered 8 very large ore carriers to transport ore through Port Hedland. Their Australian rail and port infrastructure is simply outstanding.

    Earnings are still being boosted by nearly tripling output in the last few years. Production of 55 million tons in 2012, 81 mt last year, and recently completing the $9.2 billion expansion to 155 mt annual output. They actually achieved 160 mt annualised run rate for June.

    11 years ago Andrew 'Twiggy' Forrest predicted a huge boom in Chinese iron ore demand and the guy delivered on all fronts, taking on the likes of BHP and Rio in the process. 6 years ago Fortescue made its first shipment, going on to become the 4th largest producer in the world. Leucadia reaped $1.2 billion profit over that 6 year period, on a $100 million loan to FMG.

    Investing is all about buying great companies at the right price. With a current P/E under 5, P/B under 2, a dividend yield over 4%, and FMG ranking among the lowest in terms of price to earnings to growth ratio (the lower the PEG, the better), one could conclude that today's share price provides a very attractive entry point..

    Disclosure: recent Long FMG @ 4.2 AUD (
    Jul 25 05:46 AM | 1 Like Like |Link to Comment
  • Pharming's Ruconest Triggers Value Creation: Chinese Collaboration Joins U.S., EU Partners [View article]
    Pharming And Salix Announce FDA Approval Of Ruconest® For The Treatment Of Acute Angioedema Attacks In Patients With Hereditary Angioedema (NYSE:HAE)


    LEIDEN, THE NETHERLANDS, RALEIGH (NYSE:NC), July 17, 2014 - Pharming Group NV ( EURONEXT: PHARM) and Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP), today announced that the Food and Drug Administration has approved RUCONEST® (C1 Esterase Inhibitor [Recombinant]) 50 IU/kg for the treatment of acute angioedema attacks in adult and adolescent patients with hereditary angioedema (HAE). Because of the limited number of patients with laryngeal attacks, effectiveness was not established in HAE patients with laryngeal attacks.

    “We are pleased that RUCONEST® provides the HAE community with another FDA-approved option for treating painful and debilitating HAE attacks,” said Anthony Castaldo, President of the Hereditary Angioedema Association (US HAEA), a non-profit patient services and research organization with a membership of over 5,000 HAE patients in the United States.

    RUCONEST® is a recombinant C1 esterase inhibitor that can be administered by the patient after receiving training by a healthcare provider. HAE attacks stem from a deficiency of the C1 inhibitor protein in the blood. HAE is a rare inherited genetic condition that is often not properly diagnosed until later in a patient’s life as the symptoms of an attack can mirror someone experiencing an allergic reaction. Severe, painful swelling can occur at any time, which means most people suffering from HAE deal with the constant fear of when their next attack might surface and how that might impair their lives and those around them.

    “Results in the pivotal clinical trial demonstrate RUCONEST® is a safe and effective option for the treatment of acute hereditary angioedema attacks,” said Dr. Marc Riedl of the US HAEA Angioedema Center at the University of California – San Diego and primary investigator of the phase III study. “At the US HAEA Angioedema Center, we strive to better the lives of those suffering from hereditary angioedema and part of that is ensuring patients have access to advanced treatments that have been proven to work in clinical trials. RUCONEST is an important addition to those treatment options.”

    Sijmen de Vries, CEO of Pharming, said: “The approval of RUCONEST® in the US is a very significant milestone for Pharming. For many years we have strived to make RUCONEST® - the first recombinant replacement therapy for C1Inhibitor deficiency - available to the HAE patient community in the US, because we were aware of the great value and benefit this product adds to patients’ lives. Today we are proud to have achieved this goal in the US.”

    “RUCONEST® is a much needed treatment option for patients suffering from acute attacks of hereditary angioedema. Until now, there hasn’t been an FDA approved recombinant C1 esterase inhibitor option to treat symptoms of HAE,” said Carolyn J. Logan, President and Chief Executive Officer of Salix. “The unpredictability of HAE can make patients feel uncertain about when their next attack might strike, which is why it is important to have a medicine that can be administered by the patient that resolves an attack. Salix is proud to make RUCONEST® available.”

    The FDA approval of the Biologics License Agreements (BLA) for RUCONEST® for treatment of acute angioedema attacks in patients with HAE is based on a randomized, double-blind, placebo-controlled, phase III trial (RCT) which included an open-label extension (OLE) phase and is supported by the results of two additional RCTs and two additional OLE studies. The pivotal RCT and OLE studies analyzed the results from 44 subjects who experienced 170 HAE attacks. The primary efficacy endpoint was the time to beginning of symptom relief, assessed using patient-reported responses to two questions about the change in overall severity of their HAE attack symptoms after the start of treatment. These were assessed at regular time points for each of the affected anatomical locations for up to 24 hours. To achieve the primary endpoint, a patient had to have a positive response to both questions along with persistence of improvement at the next assessment time (i.e., the same or better response).
    A statistically significant difference in the time to beginning of symptom relief was observed in the intent-to-treat population (n=75) between RUCONEST and placebo (p=0.031, log-rank test); the median time to beginning of symptom relief was 90 minutes for RUCONEST patients (n=44) and 152 minutes for placebo patients (n=31).

    RUCONEST® is manufactured by Pharming Group NV in the Netherlands. Salix has licensed exclusive rights from Pharming to commercialize RUCONEST® in North America and market RUCONEST® for the treatment of acute HAE attack symptoms.

    Salix currently plans on making RUCONEST® accessible to patients later in 2014.

    RUCONEST® is a C1 esterase inhibitor [recombinant] indicated for the treatment of acute attacks in adult and adolescent patients with hereditary angioedema (HAE). Effectiveness was not established in HAE patients with laryngeal attacks.

    Important Safety Information:
    RUCONEST ® (C1 esterase inhibitor [recombinant]) is contraindicated in patients with a history of allergy to rabbits or rabbit-derived products, and patients with a history of life-threatening immediate hypersensitivity reactions to C1 esterase inhibitor preparations, including anaphylaxis. Severe hypersensitivity reactions may occur. The signs and symptoms of hypersensitivity reactions may include hives, generalized urticaria, tightness of the chest, wheezing, hypotension, and/or anaphylaxis during or after injection of RUCONEST. Should symptoms occur, discontinue RUCONEST and administer appropriate treatment. Because hypersensitivity reactions may have symptoms similar to HAE attacks, treatment methods should be carefully considered. Serious arterial and venous thromboembolic (NYSE:TE) events have been reported at the recommended dose of plasma derived C1 esterase inhibitor products in patients with risk factors. Risk factors may include the presence of an indwelling venous catheter/access device, prior history of thrombosis, underlying atherosclerosis, use of oral contraceptives or certain androgens, morbid obesity, and immobility. Monitor patients with known risk factors for TE events during and after RUCONEST
    administration. RUCONEST has not been studied in pregnant women; therefore, should only be used during
    pregnancy if clearly needed. The most common adverse reactions (incidence ≥2%) were headache, nausea, and diarrhea. The serious adverse reaction in clinical studies of RUCONEST was anaphylaxis.

    Please see complete Prescribing Information for RUCONEST.

    About RUCONEST®
    RUCONEST® (C1 Esterase Inhibitor [Recombinant]) 50 IU/kg is an injectable medicine that is used to treat acute angioedema attacks in adult and adolescent patients with hereditary angioedema (HAE). HAE is caused by a deficiency of the C1 esterase inhibitor protein, which is present in blood and helps control inflammation (swelling) and parts of the immune system. A shortage of C1 esterase inhibitor can lead to repeated attacks of swelling, pain in the abdomen, difficulty breathing and other symptoms. RUCONEST® contains C1 esterase inhibitor at 50 IU/kg.
    When administered at the onset of HAE attack symptoms at the recommended dose, RUCONEST® works to return a patient’s C1-INH levels to normal range and quickly relieve the symptoms of an HAE attack with a low recurrence of symptoms.
    RUCONEST® is the first and only plasma-free, recombinant C1-INH approval from the U.S. Food and Drug Administration (FDA) and was approved in July 2014.

    About HAE
    RUCONEST has been granted Orphan Drug designation by the FDA for the treatment of acute angioedema attacks in patients with hereditary angioedema (HAE). With RUCONEST now approved by the FDA, Salix believes this designation should provide seven years of marketing exclusivity in the United States. Hereditary angioedema (HAE) is a genetic condition occurring between 1 in 10,000 to 1 in 50,000 people. Those with HAE experience episodes of swelling in their extremities, face and abdomen, with potentially life-threatening swelling of the airway. When it occurs in the abdomen, this swelling can be accompanied by bouts of nausea, vomiting and severe pain. Swelling in the face or extremities can be painful, disfiguring, and disabling. HAE patients have a defect in the gene that controls production of a protein found in the blood vessels, called C1 inhibitor or C1-INH. When a person’s C1-INH levels are low, fluid from blood vessels can leak into nearby connective tissues, causing severe pain and swelling and, in rare cases, death from asphyxiation from airway swelling

    About Pharming Group NV
    Pharming Group NV is developing innovative products for the treatment of unmet medical needs. RUCONEST® (conestat alfa) is a recombinant human C1 esterase inhibitor approved for the treatment of angioedema attacks in patients with HAE in the USA, Israel, all 27 EU countries plus Norway, Iceland and Liechtenstein. RUCONEST® is distributed in the EU by Swedish Orphan Biovitrum. RUCONEST® is partnered with Salix Pharmaceuticals Inc. (NASDAQ: SLXP) in North America. The product is also being evaluated for various follow-on indications. Pharming has a unique GMP compliant, validated platform for the production of recombinant human proteins that has proven capable of producing industrial volumes of high quality recombinant human protein in a more economical way compared to current cell based technologies. In July 2013, the platform was partnered with Shanghai Institute for Pharmaceutical Industry (SIPI), a Sinopharm Company, for joint global development of new products. Pre- clinical development and manufacturing will take place at SIPI and are funded by SIPI. Pharming and SIPI initially plan to utilize this platform for the development of rhFVIII for the treatment of Haemophilia A. Additional information is available on the
    Pharming website;

    Pharming Disclosure Notice:<
    This press release contains forward looking statements that involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Pharming to be materially different from the results, performance or achievements expressed or implied by these forward looking statements.

    About Salix Pharmaceuticals
    Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops and markets prescription pharmaceutical products and medical devices for the prevention and treatment of gastrointestinal diseases. Salix’s strategy is to in-license late-stage or marketed proprietary therapeutic products, complete any required development and regulatory submission of these products, and commercialize them through the Company’s 500-member specialty sales force. Salix markets XIFAXAN® (rifaximin) tablets 200 mg and 550 mg, MOVIPREP® (PEG 3350, sodium sulfate, sodium chloride, potassium chloride, sodium ascorbate and ascorbic acid for oral solution, 100 g/7.5 g/2.691 g/1.015 g/5.9 g/4.7 g), OSMOPREP® (sodium phosphate monobasic monohydrate, USP, and sodium phosphate dibasic anhydrous, USP) Tablets, APRISO® (mesalamine) extended-release capsules 0.375 g, UCERIS® (budesonide) extended release tablets, for oral use, GIAZO® (balsalazide disodium) tablets, COLAZAL® (balsalazide disodium) Capsules, GLUMETZA® (metformin hydrochloride extended-release tablets) 500 mg and 1000 mg,ZEGERID® (omeprazole/sodium bicarbonate) Powder for Oral Suspension, ZEGERID® (omeprazole/sodium bicarbonate) Capsules, METOZOLV® ODT (metoclopramide hydrochloride), RELISTOR® (methylnaltrexone bromide) Subcutaneous Injection, FULYZAQ® (crofelemer) delayed-release tablets, SOLESTA®, DEFLUX®, PEPCID® (famotidine) for Oral Suspension, DIURIL® (chlorothiazide) Oral Suspension, AZASAN® (azathioprine) Tablets, USP, 75/100 mg, ANUSOL-HC® 2.5% (Hydrocortisone Cream, USP), ANUSOL-HC® 25 mg Suppository (Hydrocortisone Acetate), PROCTOCORT® Cream (Hydrocortisone Cream, USP) 1% and PROCTOCORT® Suppository (Hydrocortisone Acetate Rectal Suppositories) 30 mg, CYCLOSET® (bromocriptine mesylate) tablets, FENOGLIDE® (fenofibrate) tablets. UCERIS
    (budesonide) rectal foam, RELSITOR®, encapsulated bowel prep and rifaximin for additional indications are under development. For full prescribing information and important safety information on Salix products, including BOXED WARNINGS for OSMOPREP, AZASAN, GLUMETZA and METOZOLV, please visit where the Company promptly posts press releases, SEC filings and other important information or contact the Company at 919 862-1000. Salix trades on the NASDAQ Global Select Market under the ticker symbol "SLXP".
    For more information, please visit our website at or contact Salix at 919-862-1000. Follow us on Twitter (@SalixPharma) and Facebook ( Information on our Twitter feed, Facebook page and website is not incorporated in our filings with the SEC.

    Salix Disclosure Notice
    As previously announced on July 8, 2014, Salix, Cosmo Pharmaceuticals S.p.A. and Irish domiciled Cosmo Technologies Limited entered into an Agreement and Plan of Merger and Reorganization, pursuant to which a subsidiary of Cosmo Technologies Limited will merge with and into Salix, with Salix as the surviving entity, and Salix will become an indirect, wholly-owned subsidiary of Cosmo Technologies Limited, which will change its name to Salix Pharmaceuticals, plc. Please Note: The statements provided herein that are not historical facts are or might constitute projections and other forward-looking statements regarding future events. Although we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, our expectations might not be attained. Forward-looking statements are just predictions and are subject to known and unknown risks and uncertainties that could cause actual events or results to differ materially from expected results. Factors that could cause actual events or results to differ materially from those described herein include, among others: uncertainties as to the ability to successfully complete the proposed transaction in accordance with its terms and in accordance with the expected schedule; the possibility that competing offers will be made; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived, including that a governmental entity may prohibit or refuse to grant any approval required for the consummation of the proposed transaction; the unpredictability of the duration and results of regulatory review of New Drug Applications, Biologics License Agreements, and Investigational NDAs; generic and other competitionin an increasingly global industry; litigation and the possible impairment of, or inability to obtain, intellectual property rights and the costs of obtaining such rights from third parties in an increasingly global industry; the cost, timing and results of clinical trials and other development activities involving pharmaceutical products; post-marketing approval regulation, including the ongoing Department of Justice investigation of Salix’s marketing practices; market acceptance for approved products; revenue recognition and other critical accounting policies; the need to acquire new products; changes in tax laws or interpretations thereof; general economic and business conditions; and other factors. Readers are cautioned not to place undue reliance on the forward-looking statements included herein, which speak only as of the date hereof. Salix does not undertake to update any of these statements in light of new information or future events, except as required by law. The reader is referred to the documents that Salix files from time to time with the SEC.

    Pharming Group NV:
    Sijmen de Vries
    Chief Executive Officer T: +31 71 524 7400

    FTI Consulting:
    Julia Phillips/ John Dineen T: +44 203 727 1136

    Salix Pharmaceuticals Ltd.
    Adam C. Derbyshire
    Executive Vice President and Chief Financial Officer
    T: +1 919-862-1000
    G. Michael Freeman
    Associate Vice President, Investor Relations and Corporate Communications
    T: +1 919-862-1000
    Jul 17 03:13 AM | Likes Like |Link to Comment
  • Banco Santander, S.A. Tops International Bank Credit Default Swap Trading 2010 To 2014 [View article]
    Anyone, really... Well, MCO turned out to be an outstanding investment these last four years.

    Criticizing CRA's for their role in the crisis is one thing, but disregarding world's largest all together and implying others do the same obviously makes you much smarter then us MCO & SAN shareholders.

    Fortunately we can take some small degree of comfort from Berkshire Hathaway's 11,5% stake, but then what does old WB know anyway.
    Jul 13 11:28 AM | 2 Likes Like |Link to Comment