Hemant Shah
Hemant Shah
abandon basis carriers decisions events experience expertise exposure feared final found last looking models pricing reaction risk simply staff year
I had feared there would be a reaction to the events of last year and some risk carriers would simply abandon the use of modeling, but what we have found is that the underwriters are looking at the models as a basis for their decisions which are then coupled with the experience and expertise of their staff to come to the final decisions on pricing and exposure levels.
global settle
They were not going to settle one thing, and now they have a global settlement.
negative
That's a very big negative overhang on the drug sector.
admission clear good hear impressive leadership lost message recognize
The impressive part was that there was a clear message of urgency, a clear admission that they've lost their leadership status. It was good to hear that they recognize that they have a problem.
coming disaster worst
It's a disaster for Merck, coming at the worst time.
kindness
They have been down so much, so they are kind of rebounding.
business company meaningful percentage product represent single total
It's such a diversified company that a single business or a single product doesn't represent a meaningful percentage of the company's total revenues.
expect liability
I don't expect liability to be a (big) issue.
becomes liability manageable situation
I think the whole liability situation becomes manageable for Merck.
cases feeds jury losing obvious settle texas
The Texas jury (verdict) may have triggered a new strategy, which is, let's settle the most obvious cases because you don't want to keep losing case after case because that feeds into itself.
combined company eliminate percent
The combined company can eliminate 25 percent of duplicated cost,
deal doubt value
without a doubt the value of the deal will change.
remain resolution stock until
Until we see some resolution of these issues, I think Merck and Pharmacia's stock will remain under pressure,
event increasing likelihood loss severe severity view
We are increasing our view of the likelihood of severe hurricanes and the severity of the loss in the event of those hurricanes.