Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Out now.
Morning The.Italian.
Finally !!!
Not that its much consolation but.......
"There will no longer be an amortisation charge relating to the Patent (FortacinTM)". meaning the European patent has now run out !!!
And surprisingly, no operational update which certainly doesn't bode well.
Could this be the final nail in our coffin.
That said and for those optimists still left ...lol.....There have been operational updates after the profit warning and preceding the final results. Could this indicate something is afoot like a US license deal.........probably not, but one can dream a little....lol
Morning bignose. yes finally. not sure about the implications of the end of the amortisation period.may make us look better in accounting terms,but the reality of no income is what matters.clearly no appreciable income (apart from the tax credit) in the period, as it would have been mentioned.there was no operational update with the PW last time either, but if there had been any good news i think they would have announced it. not looking good im afraid.
Posts crossed. not sure there are any optimists left,but it's see what happens.
FFS...how many more times?
Patent coverage expired in all territories in 2016 (and in the US in 2014). SPCs granted in a few European countries post-approval, all since expired.
Value of Fortacin as an intangible asset was based on the EMA 10 year market exclusivity which expired November 2023, along with some made-up fluff about revenue in other territories.
With no existent IP or other commercial protection in any territory, no need for amortization charge. Carrying value negligible, since only basis can be the NPV of the tail end of the Recordati agreement (less than four years away), Orient Europharma sales (if they ever get product- last imported batch expired Jan 2023), and risk-adjusted NPV for China (which I would not count on...).
So….If or when the patent runs out, will Recordati renegotiate a contract or will the existing contract have some clause already included, although I would suspect there is already some a definitive contact duration with clauses for continuation. I wonder if there was even a clause for them to apply for the OTC approval. Not sure if they would even consider renewing given how bad sales have been, although there is probably 2 good reasons to continue. Getting a local Italian manufacturer and obtaining OTC approval which cost both time and money. I wonder what their long term plan is?
There are probably 2 good reasons….. apols for the typo ;-)