Here we go again with Dendreon back in the news again. It seems that with the politics, cost and so forth of the drug the mission got out of hand. Yes they had to spend a bunch of money on software too. This is all over healthcare and part of the big expense that many don’t see as it’s an intangible. The link below was from August of 2010. Even a drug today requires IT infrastructure to monitor, report, and just overall keep track of every entity the drug touches.
Dendreon Corporation Selects Pilgrim Software As a Service Solution For Risk Management and Compliance Intelligence
“In addition to the CAPA solution, Dendreon also will implement Pilgrim’s solutions for change control management, audit tracking, regulatory commitments and customer complaints, and SmartInsight, Pilgrim’s Business Intelligence tool for generating business user-centric compliance and quality management reports.”
In addition, Medicare said they were going to pay for the drug and it’s treatment process and it’s one of the most expensive on the market and right here this makes one huge point for allowing the government to negotiate drug prices that they will pay.
CMS Gives Dendreon Wins Full Reimbursement of $93k for Treatment of Prostate Cancer With No Apparent Off Label Restrictions In Draft Memo
Just as a note, their own internal software processes were part of the FDA approval process as well. This was not the first time the CEO has dumped a big portion of stock either. If you have followed the story over the years he’s done very well but now will the company may have to lay off people if the numbers don’t come together? BD
Dendreon “Intellivenge” Algorithmic Software Supporting Administration of Provenge – Seeking FDA Approval by May 1st
Dendreon (DNDN) has done it again: the company that makes the $93,000 prostate cancer drug Provenge pulled its investor guidance today after admitting there is no way it can meet its revenues estimate for 2011. The company has been bedeviled by conspiracy theories about whether its drug actually works and hedge funds secretly shorting its stock, insider transactions and a general lack of transparency from CEO Mitchell Gold. Worse, Gold dumped $1 million in DNDN stock after he scheduled today’s earnings call back in July.