Texan hedge fund manager Kyle Bass is going activist against the US pharmaceutical industry and its patents, according to a conference attendee on Twitter.
"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.
According to the conference attendee, Bass called it a "short activist strategy."
Bass, the founder of Hayman Capital, was speaking at the Skagen New Year's Conference in Copenhagen. His presentation was titled "The US Has A Drug Problem."
Bass told conference attendees that "pay for delay" is coming to an end for drugmakers. He also said he planned to file IPR petitions (inter partes reviews) to challenge drugmaker patents.
"This will change the way pharma companies [manage] their BS patents," Bass said.
He continued: "The beautiful thing is this will lower drug prices for everyone."
We reached out to Hayman Capital for more on the presentation.
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