Kyle Bass Can’t Seem To Catch A Break
Hedge fund manager Kyle Bass has many irons in the fire. The CEO and founder of Dallas-based Hayman Capital Management, has opened the door to a strategy that could send shock waves through the pharmaceutical industry. Bass received a huge win when the U.S. Patent Office denied a request to levy sanctions against his Coalition For Affordable Drugs corporation. In the suit, drug supplier, Celgene Corp, made a number of challenges to wipe out the patents. The Patent Office didn’t agree and dismissed the argument.
Usfeul Stooges shows that Bass has had many successes over the years, but this is by far the most significant. The long and short of it is that greed cannot be used as a motivating factor to challenge a patent. “Profit is the prime reason for a patent,” says an unidentified board member. Other members went on to say that due to regulations, everything is in order and above board.
A Hayman Capital Management spokeswoman remarked that the decision will now give leeway to investigate those companies push for out of control drugs that affect the poor and the elerly. Celgene’s own company will be scrutinized now. “My company will now work on lowering drug prices while blocking Big Pharma and other like companies,” says Bass.
Hayman Capital Management is one of the most successful hedge firm companies in the U.S. Under the leadership of Bass, the company has continued to strive. Hayman has built a solid reputation over the years for successfully predicting many securities crisis such as the 2008 banking crisis and the European sovereign debt crisis.
After graduating from Texas Christian University, Bass worked for Bear Stearns and Prudential Securities. He opened Hayman in 2006 and the company found success very quickly. Bass sits on a number boards including the Troops First Foundation and the Texas Ranger Association Foundation.