GSK's vaccine operating profit, margin dive on Novartis fold-in

Moncelf...wandering dazed, confused and dehydrated. Crying out for "Moisture....moisture, il vous plaît s'il vous plaît me fournir l'humidité!" It is another Wednesday.

 

Alas, poor moncef...
Personne ne va me manquer quand il est parti. Il n'a jamais vraiment ici.

 

The biggest problem with the purchase is regulatory risk. For example, the NVD US commercial division ran a foreign tax avoidance scheme called the "Menveo Roundtable" that used transfer price to leave most of the profit for Menveo, manufactured in Italy, and then sold in the U.S., in a fake commercial entity set up in Swiss, just to take much of the profit. This cheated the govt of Italy out of millions of dollars of taxes. It was setup under the sponsorship and full knowledge of the sr leadership team. The exposes GSK to years of litigation in Italian / European courts and leaves us no choice but to go after the former NVD leadership team.

 

The scheme which you describe: It was conceived of, established and enabled by D.Connelly. You must hold her accountable with the full force of International Law, under the Hag Convention. Make it so.

 

It is called the "Swiss Turntable" and all products utilized it. This is why the Swiss legal entity owned all IP, and Drug substance and drug product were located in different countries. This is the reason why NV group is moving all production out of the US to utilize tax reduction benefits. US manufacturing is scrutinized and opens the books to the IRS

 

I think moncef needs a "Swiss Turntable" to get his engine of discovery going...

 

Moncef, Moncef, let me recount one way.

I know someone who had an interview with him. Set up a trip, rearranged schedules, etc. Was on the way to the interview and Moncef's office called and said he "had to cancel" "because of an important problem". He never called back.

He is an immense POS. Should be hung by his balls for the rest of eternity.

 

Then why has it always been kept from the auditors? Why did Novartis pay $250 to a whistleblower on a similar transfer payment scheme in 2005?

"All products" didn't use it. Only Menveo, not flu etc.

There will be an international investigation and subsequent lawsuit where GSK will be found guilty, will have to pay hundreds of million$ in fines and have to sue Novartis for compensation.

Recently, a package from an insider was mailed to several Italian newspapers, that specialize in investigating Novartis. It had 7 years of POs and pricing from SAP and detailed how the transfer pricing shirted hundreds of million$ out of Italy and into Swiss.

The money was deposited into the vault next to the one filled with gold teeth.

 

The "...important problem..." no doubt, was they ran out of "Depends" in his size--extra small. Poor, poor dried-out thing!

 

All products use it...Including Flu which is why the long term strategy was to shift the US from Fluvirin to Agrappal because it would be to obvious if the cost of fluvirin went down.

Why do you think they shut down rabies Lyo in marburg and transferred it to pharma, Stein
Why do you think they planned to switch the US market to Agrippal
Why do you think Bexsero is made in Germany, Italy and Austria...
Why do you think Novartis group transferred Vacaville to AH when NVD was desperate for it

Taxes avoidance...why do you think folks like Amol left. They knew sooner or later the hammer was going to drop. To bad it is GSk issue now...

Maybe Pfizers....

 

Maybe he is the whistleblower that will make million$ on the lawsuit. Had had access to the documentation.

 

Having ok'ed this with the U.S. IRS isn't the point. The U.S. Isn't be cheated out of much, if any at all, tax in regards to Menveo. It is Itally that is getting screwed. The CC in Italy sells Menvoe for a low price to the CC in Swiss. Who then sells it to the U.S. So, the vast majority of the profits are realized first in Swiss then I the U.S. Italy, where all the manufacturing is done has a very small proportion of the total income to tax.

I think that the Italian govt will be very interested in that fact even though they are used to getting cheated by the Swiss.

 

Chillax, Dude...Sir Andy know/is the Queen!

 

AMC's new spin-off series: "The Walking Moncef"... Welcome to the Apocalypse Pipeline. Not coming soon.

 

"Dad, why's that Walker keep askin' for 'tagine'?"
""COR-AL, jus' shut UP an' SHOOT IT!!!"

 

All I ask for monself is nothing.

 

Both like in the Walking Dead... and at GSK, the answer lies in D.C.

 

Come to beautiful Zebulon and dine at The Rusty Tagine--right off highway 96. Ask for Le plat du moncef for a tasty entree of nothing.

 

Let's make a list of all the vaccines
That he's brought to you
Let's raise a glass to all the nonsense
That he's put us through
Its been disaster without end...
And you know it's true: moncef happens.

 

Wouldn't it be interesting if this was only the proverbial "tip of the iceberg"? - first Menveo, then all of former NVD products then a general investigation into the transfer pricing international tax scams of GSK and all other pharmas who don't produce but sell billion$ in the U.S. pay almost no taxes here? All courtesy of AN/RR/VN at NVD!