Stalin
Well-Known Member
- Joined
- Apr 4, 2008
- Messages
- 2,315
expect huge amounts of government largesse to flow into the bank accounts of this slimy operator
"...Ramaswamy has funded his campaign through the sale of over $32 million in Roivant stock options in February of this year. This could lead one to believe that Roivant, based in Bermuda, is thriving and that Ramaswamy is a great entrepreneur. Except the company reported staggering losses of $1.2 billion in its financial report of March 2023. This isn't a one-time slump: In March 2022, when Ramaswamy was still Roivant's chairman and a major shareholder, the company reported an annual loss of $924.1 million.
Ramaswamy's defenders may argue that Roivant performed better during his tenure as CEO in 2021, but alas, the numbers tell a different story. The reality is that Roivant's finances were abysmal under Ramaswamy's watch. During his tenure in 2019, the company's net operating loss exceeded $530 million. By 2020, the losses had doubled to over $1 billion, accompanied by a 65 percent decline in revenue.
..
The answer might lie in Ramaswamy's implementation of Roivant's diversity, equity, and inclusion (DEI) initiative, called Roivant Social Ventures, during his CEO tenure. Launched in 2020 while Ramaswamy was still CEO, this initiative aimed to foster "DEI opportunities for future leaders in biopharma and biotech."
While Ramaswamy vocally opposes ESG principles, Roivant's major institutional investors—including Morgan Stanley, Viking Global, and BlackRock, the very firms he criticizes by name—are among its largest stakeholders, owning over 500 million shares. Ramaswamy himself holds more than 80 million shares, making him an essential partner of these major ESG funds.
In a deeply ironic twist, Ramaswamy's anti-"woke" campaign is being bankrolled by the profits reaped from the very policies he denounces.
Yet this irony is not the worst of it. In 2015, there was another sordid affair involving Ramaswamy, over Axovant Sciences Alzheimer's drug. In June 2015, Ramaswamy appeared on CNBC to praise the Axovant IPO, which soared to over $30 a share based on expectations surrounding its Alzheimer's drug, Intepirdine. The drug was touted as a "breakthrough," yet upon closer examination, this development fell apart.
...
Axovant had acquired the drug for $5 million in December 2014, six months before the IPO, after the majority of Phase 2 trials had "failed to meet their primary endpoints" in 2010. Ramaswamy devised a solution: His mother, Dr. Geetha Ramaswamy, conducted a new Phase 2 trial in 2015 involving "684 subjects." This trial conveniently claimed to demonstrate sufficient improvement to "support Phase 3" trials.
The aftermath was a triumphant $350 million IPO in 2015, followed by a drastic fall. By September 2017, the stock had plummeted 75 percent after Ramaswamy and his mother announced the Phase 3 trial's failure. Subsequent trials continued to disappoint, culminating in a 99 percent loss in value and a name change for the company.
While investors suffered significant losses, Ramaswamy profited from a higher media profile, IPO payouts, and the sale of remaining Axovant assets in 2020.
www.newsweek.com
comrade stalin
moscow
"...Ramaswamy has funded his campaign through the sale of over $32 million in Roivant stock options in February of this year. This could lead one to believe that Roivant, based in Bermuda, is thriving and that Ramaswamy is a great entrepreneur. Except the company reported staggering losses of $1.2 billion in its financial report of March 2023. This isn't a one-time slump: In March 2022, when Ramaswamy was still Roivant's chairman and a major shareholder, the company reported an annual loss of $924.1 million.
Ramaswamy's defenders may argue that Roivant performed better during his tenure as CEO in 2021, but alas, the numbers tell a different story. The reality is that Roivant's finances were abysmal under Ramaswamy's watch. During his tenure in 2019, the company's net operating loss exceeded $530 million. By 2020, the losses had doubled to over $1 billion, accompanied by a 65 percent decline in revenue.
..
The answer might lie in Ramaswamy's implementation of Roivant's diversity, equity, and inclusion (DEI) initiative, called Roivant Social Ventures, during his CEO tenure. Launched in 2020 while Ramaswamy was still CEO, this initiative aimed to foster "DEI opportunities for future leaders in biopharma and biotech."
While Ramaswamy vocally opposes ESG principles, Roivant's major institutional investors—including Morgan Stanley, Viking Global, and BlackRock, the very firms he criticizes by name—are among its largest stakeholders, owning over 500 million shares. Ramaswamy himself holds more than 80 million shares, making him an essential partner of these major ESG funds.
In a deeply ironic twist, Ramaswamy's anti-"woke" campaign is being bankrolled by the profits reaped from the very policies he denounces.
Yet this irony is not the worst of it. In 2015, there was another sordid affair involving Ramaswamy, over Axovant Sciences Alzheimer's drug. In June 2015, Ramaswamy appeared on CNBC to praise the Axovant IPO, which soared to over $30 a share based on expectations surrounding its Alzheimer's drug, Intepirdine. The drug was touted as a "breakthrough," yet upon closer examination, this development fell apart.
...
Axovant had acquired the drug for $5 million in December 2014, six months before the IPO, after the majority of Phase 2 trials had "failed to meet their primary endpoints" in 2010. Ramaswamy devised a solution: His mother, Dr. Geetha Ramaswamy, conducted a new Phase 2 trial in 2015 involving "684 subjects." This trial conveniently claimed to demonstrate sufficient improvement to "support Phase 3" trials.
The aftermath was a triumphant $350 million IPO in 2015, followed by a drastic fall. By September 2017, the stock had plummeted 75 percent after Ramaswamy and his mother announced the Phase 3 trial's failure. Subsequent trials continued to disappoint, culminating in a 99 percent loss in value and a name change for the company.
While investors suffered significant losses, Ramaswamy profited from a higher media profile, IPO payouts, and the sale of remaining Axovant assets in 2020.
Vivek Ramaswamy Is a Fraud—and Always Has Been
Both parties are already led by scandal-plagued octogenarians. The last thing we need is a millennial conman pretending to be a presidential candidate.
www.newsweek.com
comrade stalin
moscow
