Aortech Share Discussion Threads

[vega44] 15/10/2012 12:02

More commentary in on the FT today, this time in Markets Live...

[targatarga] 15/10/2012 11:43

I assume a bid is on the table around 120p... imho

[guru] 15/10/2012 09:18

Buyers paying a premium to get the shares, mm's must be really short.

[gac141] 13/10/2012 16:07

Jeffries analyst has issued a new note in the US quoting the concern over the supply to ST Jude. If anyone wants it email me at [e-mail]

[gac141] 12/10/2012 13:16

Priceless!

[vega44] 12/10/2012 12:22

Message from Frank to St Jude

[papillon88] 12/10/2012 12:21

good to see the share price ticking up makes a nice change

[gac141] 12/10/2012 11:59

The Clock is Ticking for St Jude. Only 23 day to go...

[guru] 11/10/2012 16:52

Interesting article from Wall Street Journal published yesterday entitled: St. Jude Riata Heart-Device Flaws Known for Years

A bit of pressure on St Jude!

[1400] 11/10/2012 14:23

St Jude earnings conference call Wednesday 17th Oct at 8:00am Eastern Standard Time. The call will be listen only mode and questions will come from analysts, institutional investors. As we know analysts have been very bullish on Optim(TM)so I hope they pick up this news and realise the seriousness of the consequences of st Jude losing their exclusive rights to the product.

The yahoo finance site has a very inactive bulletin board but the news is on there now.

[gac141] 11/10/2012 12:17

Bear Foot- I think this Material Breach is a very recent event. I like to think this is rock solid. I think the next few days could be very interesting particularly as St Jude have an earnings call on the 17th. Could be some searching questions asked.

Their arrogance may well bite their backsides.. Certainly hope so as we have been royally screwed over in recent times. How John Pither remains on this board is a significant mystery to me. He should go forthwith... Just look at the statements he has written over the last 3 years. We clearly do not reside on the same planet.

He did not have the balls to even turn up to the AGM.. Says it all...

[papillon88] 11/10/2012 11:28

It would be very interesting if all the above are aware of the current situation regarding STJ and AOR,
and wether it would result in downgrades if the facts warrant it

[vega44] 11/10/2012 11:05

St jude analyst coverage....


Argus Research Company David Toung
Bank of America Merrill Lynch Bob Hopkins
Barclays Capital Matthew Taylor
BMO Capital Markets Joanne Wuensch
Brean Murray, Carret & Company Sara Michelmore
Canaccord Genuity Jason Mills
Citi Investment Research Matthew Dodds
Credit Suisse Bruce Nudell
Deutsche Bank Securities Kristen Stewart
Gabelli & Company Jeff Jonas
Goldman Sachs & Company David Roman
Jefferies & Company Raj Denhoy
JMP Securities Jose Haresco
JP Morgan Securities Michael Weinstein
Lazard Capital Markets Sean Lavin
Leerink Swann, LLC Rick Wise
Mizuho Securities Michael Matson
Morgan Stanley Research David Lewis
Morningstar Debbie Wang
Northland Capital Markets Bruce Jackson
Oppenheimer & Company Steven Lichtman
Piper Jaffray & Company Brooks West
RBC Capital Markets Glenn Novarro
Rodman & Renshaw Suraj Kalia
Sanford C. Bernstein & Company, LLC Derrick Sung
UBS Investment Research Rajeev Jashnani
Wells Fargo Securities, LLC Larry Biegelsen
William Blair & Company, LLC Benjamin Andrew

[bearfoot] 11/10/2012 10:53

STJ's share price is as positively resilient to the 'earth-shattering breach news' as AOR's is negatively! US-based STJ newsflow/gossip about this is negligible. This is probably just one of hundreds/thousands of legal actions that STJ has going on at present (typical of any US corporation thanks to their legal system). Interesting to note that nobody (even just a punter or two) is rushing in to buy up easily available AOR stock.... Until there's direct STJ broker comment/newsflow to flag the (potential seriousness of the) problem I can see they will try to manage this under the radar..... With the MASSIVE resources, legal and otherwise of STJ and the minimal capacity of AOR then it would be a brave person who bets (and that's what it is) that AOR will win....and in a timeframe within the business can survive....

From the comments above it seems the 'breach' was know about for some time....presumably before the 'strategic sale of the business' (in the heady days when the shares were north of 300p). So, having had many (10?) companies, VCs etc. look at the facts....and have seen there was such a breach, then why did all of them fail to make ANY bid for the company??? If the breach was/is so obvious, and the effect of rectifying that breach was/is so massive then why oh why would STJ not simply wrapped it up there and then....or indeed anyone else...even if only to broker/leverage the opportunity from what is a minimal valuation.

I agree with an earlier post that it would be 'very interesting' if a recognised US contingency lawyer decided to take up the case for AOR....and IF the rectification sums are THAT huge then this would force brokers to issue notes about the actions...which of course would quickly drive a settlement. In the absence of that happening one has to assume that whatever the validity of the breach there is little chance of material outcome..... I hope I am (very) wrong!

[vega44] 11/10/2012 10:09

My first call would be Medtronic... what would they pay to have the ability to deny St jude the ability to sell Durata leads??

[gac141] 11/10/2012 09:48

Ok - Vega44 does that open the door for another to buy AOR and stifle supply to STJ? If so that could leave STJ in a really difficult position.

[vega44] 11/10/2012 08:34

Gac141,

STJ would only be able to use their existing stocks of Optim to produce leads once the license terminates. Once those stocks run out they would have a problem and may need to shut down the CRM business.... I don't think riata is an option for them now. They wouldn't stand a realistic chance of developing and getting the FDA to approve a new lead in that timeframe, even with several years of stock.

[gac141] 11/10/2012 07:48

If St Jude are in breach, which I believe they are, whether or not they have expertise we can prevent them making Elast-Eon. That will bring them to the table mighty quick.

[spurious] 10/10/2012 20:21

Hi marlin You say be wary of false hope. I say be very careful of believing any statements issued by ST Jude in an obvious oppening shock and awe assult on ourselves.My experience of people has shown the louder they shout the less they have to say!!!
I believe their reply only highlights their concern and shows a lack of confidence and credibility.I took the manner and content of their reply as a distinct positive for our position I would rather trust the RNS released by our BOD than the comments of a spokesman {no less!!} from a company which has had to issue two retractions and an appology from its CEO over false claims re its ownership of Optim/Elasteon.
Bill Brown was quick enough to issue a firm denial and draw an embarrassing appology from St Jude CEO over this and I hope he will show the same speed of response over St judes rambling statement to Mass Devices. It may be that we dont wish to show our full hand but bullies deserve a robust response and the more people that understand our position the quicker this will be resolved in the favour of Aortech shareholders.
Final point we discussed couple of weeks back and reaffirmed by Co via recent market update.It takes up to 3 years to get the ballance/mix correct in manufacturing Optim/Elasteon and I feel this would apply to St Jude even with their equipment.So there is no way IMO that St Jude could instantly produce Optim and they would IMO be talking months if not years to be producing the material consistent with the batch they use today.
The only way St Jude could guarantee supply is if they employed Aortech technicians Hopefully my ramblings are a little more believable than the pathetic opening salvo from a Company constantly in denial Remember the louder they shout the less they have to say!
regards SP

[25october1969] 10/10/2012 19:07

Hi marlint11

You have every right to be cynical, at least you would have , if it had been Jon Pithers who had signed the RNS. With his lamentable track record of publishing drivel for the gratification of Aortech shareholders, any RNS under his reign had to be viewed with suspicion.

However are we now dealing with "Wild Bill Bronco Brown" and FD "Eddie "Flashing the Readies" McDaid or are we dealing with men of integrity who would not make statements in an RNS unless they could be backed up? I prefer to believe the latter and believe that everything that is stated in the RNS can be supported

I have not posted recently as I have been an insider on and off for some time. I am aware of the nature of the breach of contract, but it is not my role to reveal what it is. I have not seen the contract or the legal advice relating to the breach so cannot give a cast iron guarantee that it is a valid breach. However my basic knowledge of contract law would lead me to believe that it is a valid breach which gives Aortech the right to terminate the contract and that the consequences of termination are as outlined in the Muttondeaf comments. Indeed such is the validity of the Muttondeaf comments I feel I could have written them myself.


As to the way forward, I have expressed to the Directors my views on this. I have no idea if they are in agreement. I do not think the statement by St Judes, expressed in a email to Mass Devices can be left unchallenged ie they have said:

"The allegations raised by AorTech are without merit. The rectification notice St. Jude Medical has received from AorTech is based on inaccuracies and misrepresentations"

Basically they have declared war

We need to speedily demonstrate that the allegations do have merit and we need to hurt St Judes, where it counts via their share price. This will be achieved by Analysts and the Media understanding the Aortech case and understanding the damage that will be done to St Judes unless they provide a remedy to the satisfaction of the Aortech Board.

Roy

[marlint111] 10/10/2012 17:02

More discussion here:

[marlint111] 10/10/2012 16:58

It is interesting gac141, but (and call me an awful cynic), what evidence do we have that it is true.

He could equally well have posted that AOR have just discovered a supply of magic beans which are going to transform the value of the company!

If this poster knows so much- why has he not revealed exactly what the nature of the breach is?

There are a few other technical issues in the post I'd question. "AOR are free to contract with St Judes rivals to supply them with the same material as St Judes use under the Optim name". Well this might be the case- if it were not for the fact that St Jude own all the equipment to make the material in the first place!

I really do hope that this isn't just hot air, and something comes of it, for the benefit of all holders here. But be wary of false hopes!

[gac141] 10/10/2012 16:45

VERY INTERESTING...........