OK, OK, I guess it hasn’t come full circle – that Fen-Phen ship has sailed right? Probably, but with Endo buying Indevus one can’t help but recall the rocky road of Interneuron (now know as Indevus) and all the people Fen-Phen killed. Don’t get me wrong, the drug seemed like a great idea at the time, to the public at least. Let’s take a brief history lesson, from Phen-Fen to the present day Endo deal:

• Interneuron formed in late 80s and later acquires Fen-Phen/Redux from Dick Wurtman

• Interneuron does deal with American Home Products (now Wyeth) and know about heart valve issues

• people begin dieing and FDA takes Fen-Phen off the market

• Wyeth settles $22B in lawsuits, but Interneuron founders already rich from Wyeth deal

• Interneuron changes management and name to Indevus

• Indevus makes strategic acquisitions from Valera (bought entire company) to get Sanctura. Also buys Nebido from Schering

• Valstar pulled in 2002, complete response for Nebido in 08

• Recently sold off Pagoclone to Teva and bucindolol to Arca

• shares tank 50% in recent months

• Endo buys Indevus for less than $5/share – a 50% discount to what the company was trading at in 3Q.

Again, founders and big players make the money – employees and small shareholders get screwed. Remember, you’re either a player AND do your homework, know someone on the inside, or you get f-ed.

And that’s class for today kiddos.

Image from ustoo

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