Celgene (CELG $58.49) is off 0.93% and down 1.29% YTD in a biotech bull market. The stock is also off 20% from 2007 and 2008 highs near $75.The Company recently bought Abraxis for $3B + and presented Abraxane data in combination with other drugs at ASCO. The Company has 25 drugs in it pipeline and expects Abraxane to be approved for breast and lung cancer.A Sunday NYT June 6 article covers an investor network focused on compensation of Celgene Executives.The network has received commitments from 2.7M shares of Celgene (CELG) and have promised to vote against Celgene’s pay practices.
An article in Barron’s mentions a highly unusual challenge as Netflix (NFLX) CEO Reed Hastings warned an institutional investor friend not to short NFLX stock because he did not want him to lose money.Netflix is down 10 pts or 3.8% today so Hastings may have been too brash.