Tuesday, June 03, 2008

Rubbernecking the Biovail car crash

Despite the fact that I've washed my hands of my stake in the company, I must admit I'm watching the drama going on at Biovail keenly.

I laid out my reasons for selling my Biovail stake pretty well, I think, but who doesn't love a good power struggle? Especially when someone like Eugene Melnyk is involved, a man who seems to leave a trail of carnage in his wake.

I have no idea which management team is better-suited to turn around the fortunes of what was once Canada's largest drug company.

But it's riveting stuff to watch. The fact that I don't have a horse in the race any more makes it even more enjoyable.

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