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with Kathleen Hayes and Pim Fox on Bloomberg Radio. This Shares of Valley and Pharmaceuticals are down more than four percent today, even as the company's chief executive, Joe Papa, speaks at the UBS, a global healthcare conference in New York. This is taking stock on Bloomberg. I'm Pim Fox, my co host Kathleen Hayes, and we are live in Tucson, Arizona for b n Y Melon Asset Servicings twenties sixteen
client Conference. Sacha Damuni joins us now Bloomberg Pharmaceuticals, health Care and First Word Healthcare reporter for Bloomberg, joining us from Bloomberg World Headquarters in New York. Sasha, thanks very much for spending time with us. You are spending time earlier at the UBS Healthcare Conference. What what did Valiant Pharmaceuticals not say that investors were looking for? It was a good morning at the UBS Healthcare conference. Valiant was
their Allergan was there in metivation. So these are some really topical companies that everyone's looking at in terms of investors. So what's happening with Valiant is we want to really get a feel of what Joe Papa, he's been at his tenures as the CEO for a few weeks now and he sort of had a neutral stance on what's going on. So he sort of said, look, we have a very good pipeline of new drugs. But he did
say they haven't been fully appreciated. But then his second his second point was, look, we're working through the quote speed bumps with that with with Walgreens. So if you kind of look back Mike Pearson, the former CEO, his predecessor UM, he signed a pact with Walgreens for their dermatology, for the dermatology assets, and we're starting to see sales come in and UM and they they're just not looking good in terms of the prescriptions that are coming in.
That the data is not reading right investors. So the real question is how is this major pact doing. What's it doing for the company. And he's just trying to get around it. So I think that we need to figure out what these speed bumps are. We need more color there. He also talked a bit or about his irrital boll syndrome product Za facts in UM. They said that's that's UM that that has strong patent protection and
that's been a concern. And then the other thing UM obviously Valiant vault a company last year Spruce Spruce Pharma for Addie, which is their libido pill. They spent a billion dollars on this company and prescriptions have been lackluster. So he also said they're going to relaunch Addie. So let's watch the space on the Valiant commentary. Well, so Sasha just just sum it up for us in this sense. He focused on speed bumps with Walgreens and other things.
But our investors satisfied that since Mike Pearson left, there was all the turmoil over accounting price increases, there was a now separate relationship with a controversial mail order pharmacy. Did they need to hear more about that or are they just willing to put that behind and look what's
on the table now looking forward. No, I don't think they're ready to put anything behind in the In the case of Valiant, I think that a lot of investors were actually pretty disgruntled their questions with the company regarding the way Joe Papa left Parago. Obviously, Parago had um m N a UM offer on the table last year by Milan Uh the CEO walked away said look, look,
I want to grow the company. I'm focused on on on on, you know, sort of focusing on what we're doing internally, and we're not going to sell the company. So investors are upset because shares kept declining after that he really didn't create shareholder value. So I think they're concerned that he walked away. He seemed disloyal to Parago.
He brought down the shares in the last twelve months. Obviously, during his tenure there, the shares did increase, they did go up, but um, but in the last twelve months it's been pretty lackluster, and they had hoped that he could have selled to Myland. It's Sasha Allergan shares it down a little bit more than one and a half
percent right now. Tell me what Brett Saunders, the chief executive Allergam, was talking about when I had to do with that generic business that's being sold to Tava Pharmaceuticals in Israel. So that was really the topic of the day and people were asking, what's going on with this forty billion dollar deal to sell its generics business to Tava. And it sounds pretty good, actually, it says um Brent Saunders said that the sale could close within weeks, and
people have been concerned about antitrust issues. It's a huge deal, is going to make Tava a massive powerhouse and they're going to have to make divestitures. But from what it sounded like the body language was positive and the wording was positive. TAVA and the government have been working together on this constructively. So even though shares are down, obviously people were asking about M and A. He said they're not going to make large deals right now until there's
more clarity on this. So he did say more deals are to come, more deals in the billions of dollar range. So still still sounds like an exciting year for allghan quick comment on metivation, Sasha Duty, So metivation, the buzz around metivation based clear. The CEO David Hung has a very high threshold for an M and A price, and it sounds as if it's going to be difficult for him to budge on coming down on that price. He's a founder, He's this is his darling, so he thinks
that should go at evaluation. That is probably sort of misaligned with the market right now. Sasada Moody, you've been covering these conferences for so long. First word healthcare reporter for Bloomberg on the latest news of the UBS Healthcare conference in New York city of Kathe Hayes. Along with Pimco Box, we are at a conference in near Tucson, Arizona. It's invested sixty the power of big ideas b n Y balanced client conference. Up next to look at people
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