Fitbit, LoanDepot Hiccups Don’t Bode Well for IPOs Like Square’s – Bloomberg Business

Link: http://www.bloomberg.com/news/articles/2015-11-13/fitbit-loandepot-hiccups-don-t-bode-well-for-ipos-like-square-s

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Bloomberg BusinessWeek recycled a comment I made in a broader story on the state of the IPO market. The IPO market is hot until it cools off, and is cold until it heats up. The timing of the cycle is an element of exit risk faced by VCs and other early-stage investors.

http://www.bloomberg.com/news/articles/2015-11-13/fitbit-loandepot-hiccups-don-t-bode-well-for-ipos-like-square-s

Erik Gordon
Ross School of Business
University of Michigan

Beer merger story – back again

Link: http://abcnews.go.com/International/wireStory/beer-merger-bring-budweiser-miller-roof-35124475

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On the news AB InBev and SABMiller reached a formal agreement on the
merger and have agreed to sell off SABMiller’s interest in Miller Coors:

“In some ways, though, the announcement marked only the end of the
beginning. Though AB InBev got SABMiller’s main shareholders on board and
lined up the largest-ever acquisition debt package, Erik Gordon of the Ross
School of Business at the University of Michigan said the deal faces
regulatory risks.

That’s particularly true in China, which is known to be tough in
negotiations, and in South Africa, which has put the companies on notice
that it will look at the deal’s impact on the overall economy.

“It’s easier for businesspeople to reach agreements with each other than to
reach an agreement with regulators,” he said. “Regulators get no reward for
reaching an agreement but get praised for being tough.” ”

at abc news:

http://abcnews.go.com/International/wireStory/beer-merger-bring-budweiser-miller-roof-35124475

at cnbc:

http://www.cnbc.com/2015/11/11/the-associated-press-beer-merger-will-not-bring-budweiser-miller-under-same-roof.html

at HuffPo:

http://www.huffingtonpost.com/huff-wires/20151111/eu–britain-beer-merger/?utm_hp_ref=world&ir=world

_____________________
Erik Gordon
Ross School of Business
University of Michigan
Ann Arbor, Michigan

Bitcoin adoption – in The Detroit Free Press

Link: http://www.freep.com/story/money/business/2015/11/08/bitcoin-back-detroit-after-price-pop-and-drop/75224930/

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Here is an interesting story about consumer-side adoption of Bitcoin and Bitcoin ATMs in Southeast Michigan. I think some sort of crypto-currency based on block chain will be huge in world trade. I’m less sure about consumer use.

http://www.freep.com/story/money/business/2015/11/08/bitcoin-back-detroit-after-price-pop-and-drop/75224930/

The statement from the lawyer is great.

Erik Gordon
Ross School of Business
University of Michigan

On the drug pricing controversy

Link: http://abcnews.go.com/Health/wireStory/pfizer-doubling-patient-income-limit-free-drug-program-35002347

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At abc News:

http://abcnews.go.com/Health/wireStory/pfizer-doubling-patient-income-limit-free-drug-program-35002347

At US News & World Report:

http://www.usnews.com/news/business/articles/2015/11/05/pfizer-doubling-patient-income-limit-for-free-drug-program

Erik Gordon
Ross School of Business
University of Michigan

Fund members on healthcare teams

Link: http://www.reuters.com/article/2015/10/30/valeant-pharmacies-expressscripts-idUSL1N12U34220151030

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For those of you who are on healthcare teams or are interested in
healthcare, here is one of the many stories on Valeant, and this story
gives a peak into how specialty drugs are distributed.

Distributing specialty drugs, particularly injectables and infusables (not
pills you just swallow), works differently than for run-of-the-mill drugs
that don’t require special handling or special instructions to or
monitoring of patients. (More on this will be covered in my Winter A
course from ZLI: ES 720 Commercialization of Biomedicine.)

http://www.reuters.com/article/2015/10/30/valeant-pharmacies-expressscripts-idUSL1N12U34220151030

_____________________
Erik Gordon
Ross School of Business
University of Michigan
Ann Arbor, Michigan