Maybe if you know how much cash they have then you should advise Oberman so that he can issue guidance as they pulled all their financial forecasts in the last earnings call, LOL.
Oberman is supposed to save Concordia? Oh that is so sad.
In mid-November, generics veteran Allan Oberman took over as CEO of Concordia (NASDAQ:CXRX). The much-maligned healthcare company continues to see tremendous pressure in its core North American business, driven primarily by the fact that the company paid too much for inflated generic products that are seeing competition enter the market.
In reviewing Oberman's career, you find some impressive surface credentials: CEO of Teva Americas Generics (NYSE:TEVA), CEO of Teva Canada, and COO of Teva International. After Teva, Oberman took the helm of niche generic injectable maker Sagent (NASDAQ:SGNT), which he sold to Japan's largest generic company, Nichi-Iko. His experience at Sagent is exactly why I believe he was brought into Concordia - he likely owns an impressive rolodex of key players in the generics industry from executing a sale process at Sagent, and I think the belief is that he'll be able to salvage something at Concordia.
However, his performance at Sagent was not particularly impressive. Sagent was acquired for a significant premium to its trading price at the time - but that was a price 11.5% lower than when Oberman became CEO.
Source: Google Finance
Further, I believe it is unwise to extrapolate Oberman's experience at Sagent or Teva to the task at hand in turning around Concordia. Teva was a broad-based generics company focused on first-to-file opportunities (becoming the first approved generic product and earning 6 months of exclusivity and thus fantastic market share/profits), leveraging Teva's robust commercial relationships, and steering one of the finest generic companies in the world.