Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' I Busi... Page 1 of 12
`
`MONEY & MARKETS g/MONEY-MARKETS}
`
`Hedge Fund Manager
`Kyle Bass Is Going
`After Big Pharma And
`Their 'BS Patents‘
`
`JULIA LA ROCHE (/AUTHOR/JULlA-LA—ROCHE)
`JAN 8. 2015, 2:47 AM
`, (/KYLE-BASS-GOING-AFTER-US-PHARMA—
`2015-1#COMMENTS)
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`2015-1&T=HEME~5FIMWW
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`
`http ://businessinsider.dfgvib.com/kyle-bass—going-after-us-pharma—ZO 1 5-1
`
`NPS EX. 2023
`CFAD v. NPS
`
`IPR2015-01093
`
`page 1
`6/1 /20 1 5
`
`Page 1
`
`NPS EX. 2023
`CFAD v. NPS
`IPR2015-01093
`
`
`
`MONEY & MARKETS g/MONEY-MARKETS}
`
`Hedge Fund Manager
`Kyle Bass Is Going
`After Big Pharma And
`Their 'BS Patents‘
`
`JULIA LA ROCHE (/AUTHOR/JULlA-LA—ROCHE)
`JAN 8. 2015, 2:47 AM
`, (/KYLE-BASS-GOING-AFTER-US-PHARMA—
`2015-1#COMMENTS)
`I.
`
`I f
`
`y
`
`4‘
`
`in
`
`8*
`
` "'
`-'}3§<\
`V
`(fairer!steiemsuifiamedgraae/lea 61.54%
`
`Kyle Bass, founder and principal of Hayman
`2015-1&T=HEME~5FIMWW
`Capital Management, L.P., speaks at the Sohn
`B +p
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`27&SUMMARY=TEXAN+HEDG
`
`20@BUSINSIDERAU))
`
`2C+ACCORDING+TO+%
`
`40FI NAN SAKRO BAT%
`
`http ://businessinsider.dfgvib.com/kyle-bass—going-after-us-pharma—ZO 1 5-1
`
`NPS EX. 2023
`CFAD v. NPS
`
`IPR2015-01093
`
`page 1
`6/1 /20 1 5
`
`Page 1
`
`NPS EX. 2023
`CFAD v. NPS
`IPR2015-01093
`
`
`
`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents'
`
`| Busi... Page 2 of 12
`
`Texan hedge fund manager Kyle Bass is
`
`going activist against the U.§3.8217%
`pharmaceutical industry and their patents,
`FEED %
`according to @finansakrolggflmier feed
`
`(https : //twitter.com/finansat3k°£°6%at).
`
`“We’ll have a separate pharmacy vehicle.
`
`We’ve dedicated half of our resources over
`
`the past six months to this,” Bass told
`
`conference attendees.
`
`Bass, the founder of Hayman Capital, was
`
`speaking at the Skagen New Year’s
`
`Conference in Copenhagen
`
`(https : //www.skagenfunds.ie/Ask—
`
`us/New—Years-Conference/New—Years—
`
`Conference-2o15/New—Years—Conference-
`
`2015-in-Copenhagen/).
`
`Bass told conference attendees that he
`
`plans to file IPR petitions (inter partes
`
`reviews
`
`(http: //www.uspto.gov/aia_implementation/
`
`to challenge drugmaker patents.
`
`“This will change the way pharma
`
`companies [manage] their BS patents,”
`
`Bass said, according to @finansakrobat.
`
`We reached out to Hayman Capital for
`
`more on the presentation.
`
`http ://businessinsider.dfgvib.com/kyle-bass-going-after—us-pharma—ZO 1 5-1
`
`Page 2
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`
`Page 2
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`
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | Busi... Page 3 of 12
`
`In the meantime, here’s a great rundown
`
`courtesy of @finansakrobat’s Twitter feed.
`
`(https : //twitter.com/finansakrobat)
`
`
`
`Kyle Bass: “The US has a drug problem”
`pic.twitter.com/UovazdeKi
`(http: //twitter.com/finansakrobat/status/5 2
`—— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55282 4
`
`
`pic.twitter.com/NSZBSUCM4J
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`|
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55282 7
`
`
`pic.twitter.com/ G8HWSXBscW
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55282 E
`
`
`
`
`
`
`Kyle Bass: “The mechanism on how the
`US allows the pharmacy prices and how
`it’s all about to change”
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55282 1
`
`
`
`
`
`http ://businessinsider.dfgvib.com/kyle-bass-going—after-us-pharma—ZO 1 5-1
`
`Page 3
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`Page 3
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`
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharrna And Their 'BS Patents'
`
`| Busi... Page 4 of 12
`
`pic.hNitter.com/BN9505QCgP
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55282F2
`
`pic.twitter.com/pV0N19BAj0
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`I
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55282 3
`
`
`
`“Only 1 of 12 cancer drugs approved in
`the last year prolongs life more than 2
`months”
`
`— financial acrobat (@finansakrobat)
`
`(https://twitter.com/mims/statuses/55282 5
`
`January 7, 2015
`
`
`
`Kyle Bass is spitting fire. Talking about
`how horrible the US Parma market is.
`
`—— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55282f7
`
`pic.twitter. com/HciFstX4W
`(http : //twitter.com/finansakrobat/status/552
`—- financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55282 8
`
`
`http ://businessinsider.dfgvib.corn/kyle-bass-going-afier-us-pharma—ZO 1 5-1
`
`Page 4
`6/1/2015
`
`Page 4
`
`
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents’ | Busi... Page 5 of 12
`
`
`
`Kyle Bass: “Bush, Hazard and Rove did a
`deal With the devil on Medicare D”
`
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 3
`
`pic.twitter.com/eg61jEIGYh
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`I
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283T1:
`
`
`
`If Kyle Bass is right in that “this will
`change”, it’s hugely bearish for big
`pharma
`— financial acrobat (@finansakrobat)
`‘
`January 7, 2015
`(https: //twitter.com/mims/statuses/5528313
`
`pic.twitter.com/YSongUG5j
`(http: //twitter.com/finansakrobat/status/5 2
`—— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283r»4
`
`pic.twitter.com/MnioHoDle
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`‘
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283T6
`
`http ://businessinsider.dfgvib.com/kyle-bass-going-after—us—pharma—ZO 1 5-1
`
`Page 5
`6/1 /20 1 5
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`Page 5
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`
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | Busi... Page 6 of 12
`
`pic.twitter.com/3FZzSzBTLW
`(http: //tWitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/5528311:9
`
`
`
`
`Kyle Bass says “it will change soon” for
`pharma. Still hasn’t revealed What this is.
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55283 1
`
`
`
`pic.twitter.com/DRaxH8chm
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 3
`
`
`
`Kyle Bass: “AG, Federal Trade
`commission going after them for pay for
`delay”(see previous tweet)
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283126
`
`
`
`Kyle Bass: Pay for delay, lobbying is all
`coming to an end
`— financial acrobat (@finansakrobat)
`
`
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 7
`
`
`
`
`http ://businessinsider.dfgvib.com/kyle-bass—going-after-us-pharma—ZO 1 5-1
`
`Page 6
`6/1/2015
`
`Page 6
`
`
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | Busi... Page 7 of 12
`
`pic.twitter.com/5kLoxI_x7PB
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twittencom/mims/statuses/55283 8
`
`
`
`
`Kyle Bass: Purdue has made $US27bn
`off of OxyContin.
`— financial acrobat (@finansakrobat)
`
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55283 o
`
`
`
`
`KB: What Purdue did when patent was
`about to expire, they sent a letter to gov
`
`saying Oxy was “too dangerous to
`prescribe”.
`
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 3
`
`
`
`
`
`
`
`KB: FDA cancelled patent and Purdue
`got a new modified patent. “This is to
`stop”
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 4
`
`
`
`
`
`
`http://businessinsider.dfgvib.com/kyle-bass—going-after—us-pharma—ZO 1 5-1
`
`Page 7
`6/1/2015
`
`Page 7
`
`
`
`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | Busi... Page 8 of 12
`
`
`
`
`KB: FDA cancelled patent and Purdue
`got a new modified patent. “This is to
`stop”
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //tWitter.com/mims/statuses/55283 4
`
`
`
`
`
`
`pic.twitter.com/YZWeajPCV8
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`I
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 7
`
`
`
`pic.twitter.com/Yiof8PVdQU
`(http: //twitter.com/finansakrobat/status/5* 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 8
`
`
`
`
`
`pic.twitter.com/mPVLR7qHAx
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 9
`
`
`
`
`
`R&D spending dropping, revenue up
`pic.twitter.com/afl‘thXbH9
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https: //twitter.com/mims/statuses/55283 2
`
`
`http ://businessinsider.dfgvib.com/kyle-bass—going—after-us—pharma—ZO 1 5 -1
`
`Page 8
`6/1 /20 1 5
`
`Page 8
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`
`
`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | Busi... Page 9 of 12
`
`Kyle Bass: Patent law changes
`pic.twitter.com/FvAYquHJJ
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55283 3
`
`
`
`
`
`Kyle Bass: “This has happened to tech,
`it’s about to happen to Parma”
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55283 5
`
`
`
`pic.twitter.com/ 8flYYZPXDH
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`(https://twitter.com/mims/statuses/55283 6
`
`
`
`Kyle Bass has effectively become a anti—
`pharma activist investor
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://tWitter.com/mims/statuses/55283f1
`
`pic.twitter.com/Uwg5tMpIFG
`
`(http: //twitter.com/finansakrobat/status/5 2
`—— financial acrobat (@finansakrobat)
`
`|
`
`January 7, 2015
`(httpsz//twitter.com/mims/statuses/5528363
`
`http://businessinsider.dfgvib.com/kyle—bass-going-after-us-pharma-ZO15—1
`
`Page 9
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`
`Page 9
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`
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`_Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | B... Page 10 of 12
`
`
`
`Kyle Bass: “we will file IPR Petitions
`within the next weeks and guess what,
`we won’t settle”
`
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283f5
`
`
`
`Kyle Bass: “This will change the way
`pharma companies mange their BS
`patents”
`-— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283f8
`
`
`
`Kyle Bass: “The beautiful thing is, this
`will lower drug prices for everyone”
`— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283171;
`
`pic.twitter.com/pAN7y91Qrb
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`l
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283173
`
`pic.twitter.com/fz2DOtN4Zm
`
`(http: //twitter.com/finansakrobat/status/5 2
`— financial acrobat (@finansakrobat)
`
`!
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283175
`
`http://businessinsider.dfgvib.com/kyle-bass-going-after-us-pharma—ZO15-1
`
`Page 1 0
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`
`Page 10
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents' | B... Page 11 of 12
`
`
`
`Kyle Bass: “We’ll have a separate
`pharmacy vehicle. We’ve dedicated half
`of our resources over the past six months
`to this”
`
`—— financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283r7
`
`
`
`Kyle Bass: “This is a short activist
`strategy and we hold the hammer”
`—- financial acrobat (@finansakrobat)
`
`January 7, 2015
`
`(https://twitter.com/mims/statuses/55283r9
`
`Follow Business Insider Australia on
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`
`(https: //Www.facebook.com/Businessl
`
`
`(https: //twitter.c0m/businsiderau),
`
`and LinkedIn
`
`(http: //Www.linkedin.com/company/b‘
`
`insider-au)
`
`Taggedln
`
`drugs (lcategory/drugs)
`
`hedge funds (/category/hedge-funds)
`
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`
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`
`http ://businessinsider.dfgvib.com/kyle-bass-going-after-us-pharma-ZO 1 5-1
`
`Page 1 1
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`Page 11
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`Hedge Fund Manager Kyle Bass Is Going After Big Pharma And Their 'BS Patents'
`
`| B... Page 12 of 12
`
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