DEPO – RATS!
If you took a flier with the basket of three speculative stocks suggested here recently . . . DEPO (then at $3.02), DYAX (then at $3.17), INCY (then at $5.62) . . . and if you took some or all your profit in INCY as suggested here (at $10.81) and replaced it with DCTH (at $5.37 or a few days later at $4.61) . . . then you may have noticed that DEPO got clobbered yesterday. It dropped 20% to $2.47. (DYAX and DCTH remain largely unchanged at $3.48 and $5.31.)
DEPO dropped because XNPT was rejected by the FDA for its gabapentin-based restless-leg-syndrome drug. Gabapentin produces pancreas tumors in rats. Gabapentin is the basis of the drug DEPO hopes FDA will approve. It has been on the market for 15 years and has produced no evidence of increased pancreas tumors in humans, but the FDA said the risk/reward for an approval in restless leg was not worth it.
Gabapentin has previously been approved for post-herpes pain – DEPO’s intended use. The FDA deemed that post-herpes pain was sufficiently important to allow the risk of pancreas tumors in rats. Thus DEPO should be able to get approval for the same thing. (DEPO’s delivery allows better efficacy and fewer side effects and more convenient dosing than the already-approved generics.) However, it appears that Jason Napodano didn’t know this when he made a comment to a reporter that if XNPT went down, DEPO should go down.
The DEPO Phase III data are now in the hands of Solvay, which is being bought by Abbott. Abbott will likely file for approval as soon as they complete the Solvay merger. The fundamentals say all should go through as planned. What I don’t know is whether the stock market will wait until ABT/DEPO version of gabapentin actually gets approval in order to give them credit. If the market does wait for this, then DEPO could be dead in the water for most of this year.
☞ So far, not so great. But I’m holding mine.
BRUSHING UP ON YOUR LANGUAGE SKILLS
If you don’t already have Google’s toolbar on your browser, you can get it with a few clicks here. One of its many helpful features is a ‘translate’ option I recently turned on. Now, occasionally, I’ll click ‘translate,’ and the entire page I’m reading – even this one – appears, a moment later, in Russian. Being able to go back and forth this way with material whose meaning you already know and have an interest in could be an amusing way to awaken high school language skills. (Or just a way to learn how to say ‘restless leg syndrome’ in French, Slovak, or Simplified Chinese.)
MARRIAGE IN BARELY A MINUTE
She was denied a license to marry her life partner but offered one to marry a passer-by of the opposite sex. (If, after watching the clip, you think the government should allow same-sex couples civil marriage licenses – quite apart from whatever their church, mosque, or temple might choose to bless – sign here.)
ASK, TELL – AND GET TO WORK
Brent: ‘You may not appreciate this editorial quite as much if you are not familiar with the extent that this North Carolina newspaper, the Hickory Daily Record, in the past has promoted anti-gay sentiment. But here it is anyway.’
It’s Time to End ‘Don’t ask, don’t tell’
By Lee Barnes
When I was in the Air Force, one of the guys in my barracks was gay.
I knew Richard was gay because he liked to wear a little bit of eyeliner when he wasn’t on duty.
I also knew he was gay because every time he got a few beers in him at the Airman’s Club, he’d flirt with me.
I handled this great threatening menace to my manhood by telling him to go away. Which he always did. That was quite some time ago — 1970. Those were different times for gay men and women, but not so much as you might imagine.
Richard and I were medics, assigned to a hospital in Mississippi. With the Vietnam War going on, business in military hospitals was, unfortunately, very good.
Richard was a great medic, far better than I was. And people in military hospitals always like working with someone who is good at what he does. It’s especially the case when you’re shorthanded, which we always were.
With Richard’s many mannerisms, his sexual preference was no secret to anyone, including the officers. It wasn’t a matter of “Don’t ask, don’t tell.” It was more a matter of “We have work to do.”
We accepted Richard because there wasn’t time to do anything else. That’s the way it seems to work best for the military.
Consider, for example, the end of segregated troops in the armed forces during the Korean War.
You can look it up. The need for troops in Korea exceeded the means to house the black soldiers separately from the white soldiers.
Thus we got integrated armed forces, out of necessity.
So, back to gays in the military.
We’re at a time in our problems in Iraq and Afghanistan where we can no longer exclude qualified volunteers just because they’re openly gay.
President Clinton’s “Don’t ask, don’t tell” policy was, and is, political cowardice. It hasn’t worked — thousands of gay soldiers have been dismissed from the military since the policy’s adoption in 1993.
Retired Gen. John Shalikashvili was chairman of the Joint Chiefs of Staff when Clinton came up with the policy. He opposed it, because he opposed gays in the military, period.
Now, Shalikashvili says he was wrong. He says he has met with gay servicemen and drawn some new conclusions.
“These conversations showed me just how much the military has changed, and that gays and lesbians can be accepted by their peers,” he wrote.
Well, maybe the military has changed, but the people in it haven’t. We were capable of accepting gays within our ranks decades ago.
That’s exactly the situation today, as today’s soldiers overwhelmingly say it’s a non-issue to them.
If I need the help of the medic or marksman working next to me, his sexual orientation won’t be high on my list of priorities.
Defense Secretary Robert Gates announced Tuesday that he will begin looking for ways to eliminate the policy and begin integrating gay and straight soldiers.
It’s about time.
Today’s all-volunteer military in this time of war needs all the good people it can get — including those good people who happen to be gay.
LEE BARNES is editor of the Hickory Daily Record.
Quote of the Day
Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works.~John Stuart Mill, 1867 (Like shopping centers in the middle of the desert. Or millions of pages of legal documents.)
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