The following is from SEC Form 20 F dated February 28, 2008:

“At December 31, 2007, we had $1,765.0 million of debt. At such date, we had cash and cash equivalents, current restricted cash and current investments of $720.5 million. Our substantial indebtedness could have important consequences to us. For example, it does or could:

• Increase our vulnerability to general adverse economic and industry conditions;

• Require us to dedicate a substantial portion of our cash flow from operations to payments on indebtedness, thereby reducing the availability of our cash flow to fund R&D, working capital, capital expenditures, acquisitions, investments and other general corporate purposes;

• Limit our flexibility in planning for, or reacting to, changes in our businesses and the markets in which we operate;

• Place us at a competitive disadvantage compared to our competitors that have less debt; and

• Limit our ability to borrow additional funds.

We estimate that we have sufficient cash, liquid resources and current assets and investments to meet our liquidity requirements for at least the next 12 months. Although we expect to continue to incur operating losses in 2008, in making our liquidity estimates, we have also assumed a certain level of operating performance. Our future operating performance will be affected by general economic, financial, competitive, legislative, regulatory and business conditions and other factors, many of which are beyond our control.”

By the way, the FTY720 drug works excellent in Blast Phase Chronic Myelogenous Leukemia: http://www.jci.org/articles/view/JCI31095v1?ck=nck&content_type=abstract

See the full PDF here: http://www.jci.org/117/9/2408/pdf

Yet they have with held this drug from this group of patients, preferring to let them die as there is nothing else to treat BC CML with. There is no excuse for this, and before any lab researchers get up on their soapbox to defend this despicable behavior, save your breath. After all, my monnicker doesn’t give full details, but I am informed enough to know that there is no basis of any justification for this, other than pure greed - patients last, as usual.

Shame on Novartis and shame on their shareholders for allowing this to happen.

Never trust the Swiss……

If you do not believe these things go on then take a look at what has happened to the stocks on various exchanges and the assets that have been plundered at massively discounted prices due to orchestrated short selling and timely media coverage.

No I am not deluded or naïve enough to think that such deals cannot be brokered behind closed doors to the detriment of the small retail investor.

We will see how this story evolves but I do not intend on being a silent victim of someone else’s greed.

Are we seeing the start of a dirty tricks campaign to persuade Elan shareholders in to accepting various falsehoods? Is the aim of such a campaign to bring about a change in Elan management in order to facilitate the buying of Elan (or bits of it) at a knock down price?

A concerned ‘long-term’ shareholder