AKRX/FRE GR – OG Risk Arb spoke with AKRX IR.
AKRX/FRE GR – OG Risk Arb spoke with AKRX IR. Among other things, AKRX conveyed the following: (1) AKRX did not see anything in FRE GR papers that surprised them; AKRX categorically denies all of FRE GR’s fraud allegations; (2) AKRX is keeping the FDA fully informed and that included informing the FDA of the Cerulean report; AKRX denies FRE GR allegations that it did not appropriately follow up on the findings in the Cerulean report; (3) the FDA visit to the AKRX Decatur facility in early April 2018 (see Verified Counterclaim, para. 141) was in the ordinary course and was not part of a FDA investigation of the data integrity issues AKRX is investigating; (4) AKRX would not rule out the possibility of settlement in the form of a price cut; AKRX will do what is best for the shareholders; and (5) AKRX has an agreement with FRE GR for FRE GR to continue pursuing antitrust approval; if AKRX believes FRE GR is not using RBE and/or is breaching this agreement, it will ask the Court for assistance.
OG Risk Arb continues to use a 75% probability that the deal will either close on terms or with a price cut.
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