The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Globe and Mail

Globe and Mail Story on Patheon-JLL Battle

Hockey_fightBoyd Erman at the Globe and Mail wrote about JLL’s long battle for Patheon in this morning’s paper, following yesterday’s dueling press releases (which I tweeted about @crossborderbio, also appearing to your right on this blog). 

Particularly if you’re new to this saga, I encourage you to read the whole article; but for those who have been getting their info here, I’d note a few particular tidbits about the long and previously good history between the parties:

“… it was JLL’s investment of $150-million in Patheon two years ago that enabled the company to restructure and get through tough times …”


“… Patheon was struggling in large part because the 2004 acquisition of a Puerto Rican drug maker called MOVA had gone sour, becoming a big money-loser …”

and notably, clarifies that Viso was the former owner of MOVA.

Maher Yaghi, an analyst at Desjardins Securities who Erman quotes several times in the story, takes a Solomonic approach, reportedly pegging the valuation at $3.75/share which splits the difference between JLL’s USD$2 offer and the $5 valuation Patheon is sticking to (so far).

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The Gary Goodyear Evolution Story, As it Has Evolved So Far

Gary Goodyear, Canada’s minister of state for science and technology, has drawn international attention this week for his highly defensive, arguably obfuscatory, chronologically incorrect and possibly creationist statements about evolution.

Tuesday, March 17, the Globe and Mail reports Goodyear responding to a question about evolution by saying “I’m not going to answer that question. I am a Christian, and I don’t think anybody asking a question about my religion is appropriate.” (er, that was a science question!) Later Tuesday, appearing on a CTV News show, he said “Well, of course, I do, but it’s an irrelevant question” and went on to say “We are evolving every year, every decade.” (speed-volution!) Wednesday Morning, and since, he has stuck to the position that his view on the matter “has no relevance.” (keep evolving that position, Mr. Goodyear!)

There are now several schools of thought:

  1. Mr. Goodyear is a creationist whose beliefs are influencing science funding decisions;
  2. Mr. Goodyear has compounded a bad gaffe with a worse strategy, but the science funding decisions have nothing to do with his beliefs;
  3. His failure to properly articulate examples of evolution show that he lacks understanding requisite to do his job;
  4. His failure to properly articulate examples of evolution were a further attempt to prevaricate — he claims to believe in evolution, but doesn’t mean the same kind of evolution that scientists refer to; plus a special bonus…
  5. The whole thing is a librul witch hunt and it would be perfectly okay to have a creationist minister of state for science (sic) and technology.

I have been unable to locate a description of the minister of state’s mandate, so I can’t judge whether he’s effectively meeting those expectations.  I can say that his behaviour, between this episode and his shouting match with professors a couple of weeks ago, has done nothing constructive to address the urgent problems facing our research, development and commercialization industries.

Is that irrelevant?  Well, Mr. Goodyear…

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