Romanticpoet's Weblog
written by Staff
January 1, 2010
Former SEIU boss Andy Stern doesn’t quite deserve all of the credit. After all, SIGA Technologies’ scientists did come up with ST-246 (a smallpox vaccine) long before Stern was brought on board to pitch the company to his friends in Washington. However, hiring Andy Stern (who happened to have a key to the back door of the White House) was most assuredly a good investment since, a mere four months after his hiring to SIGA’s board of directors, SIGA was awarded the brass ring of contracts that may be valued up to $2.8 Billion.
SIGA Technologies Inc. in New York, New York said today it received notice that the Biomedical Advanced Research and Development Authority (BARDA), part of the U.S. Department of Health and Human Services (HHS), intends to award a contract for the company’s smallpox antiviral for the strategic national stockpile. SIGA says a protest from another company in the competition for the award first needs to be resolved before the award can take place.Under the contract, BARDA calls for SIGA to deliver 1.7 million courses of its smallpox drug. The base contract, once awarded, is expected to generate revenues of about $500 million, with the entire contract, if all options are exercised, generating revenues of up to $2.8 billion.
While it appears to have helped having friends with friends in high places, in order for Stern to fully realize his value to SIGA, the company must first win the lawsuit that goes to trial on Monday over whether SIGA fully owns the rights to the vaccine (after a failed merger).
Note: If you had bought 100 shares of SIGA for $676 when Andy Stern joined the company back in June, your money would be worth $1400 today.
Wouldn’t it be interesting to know if any current or former SEIU officers (or other union bosses) or their relatives bought SIGA around the time Andy Stern joined the board of directors?
**Note:
Andy Stern on National Commission on Fiscal Responsibility and Reform
AND
Is Chair for the Center for Community and Corporate Ethics.
Was Andy Stern given a waiver by Obama to be part of his Administration even though Obama signed an Executive Order against lobbyists working within his Executive Branch?
http://www.whitehouse.gov/the_press_office/Ethics-Commitments-By-Executive-Branch-Personnel/
About SIGA Board:
Andy Stern, Director
Andy Stern has served as a director of SIGA since June 2010. Mr. Stern is the former president of the 2.2 million member Service Employees International Union (SEIU), the largest union of health care, doctors, nurses, janitors, security officers, child care, home care, hospital, and state workers, and the fastest-growing union in North America. Mr. Stern was recommended to the Nominating and Corporate Governance Committee for inclusion as a director-nominee by the Chief Executive Officer.
Eric A. Rose, M.D., Chief Executive Officer and Chairman of the Board
Eric A. Rose, M.D. was elected Chairman of the Board of Directors on January 25, 2007, and on March 1, 2007, became the Company’s Chief Executive Officer. Dr. Rose has served as a director of SIGA since April 19, 2001 and served as Interim Chief Executive Officer of SIGA during April-June 2001.
The US Department of Health and Human Services Names Dr. Eric Rose to National Biodefense Science Board.
*** CONNECT THE DOTS ***
SIGA Technologies is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. SIGA believes that it is a leader in the development of pharmaceutical agents to fight potential biowarfare pathogens. SIGA has antiviral programs targeting smallpox and other Category A pathogens, including arenaviruses (Lassa fever, Junin, Machupo, Guanarito, Sabia, and lymphocytic choriomeningitis), dengue virus, and the filoviruses (Ebola and Marburg).
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