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AT&T Inc
208 S. Akard St
Phone: (210) 821-4105p:210 821-4105 DALLAS, TX  75202  United States Ticker: TT


Probiomed, dangerous precedent


In the face of demands from civil society and President López Obrador himself, they say that Juan Antonio Ferrer's Insabi was pressured to buy medicines in record time and with scarce resources, which led him to buy medicines from Probiomed, the pharmaceutical company led by Jaime Uribe that, since 2018, suffers from financial insolvency.

How serious is their situation? Since January 20, 2020 it is in bankruptcy (DOF) and the serious thing about the matter is that Insabi agreed to the purchase of oncological and biotechnological drugs with a company sued by its creditors and with debts in the SAT, and with little credit for raw material, as it is known in the medium.

Roberto Salcedo, of the Civil Service, will want to know why the contract allocation was made with a debtor of the federal government, given that among the main creditors of Probiomed listed in the current commercial contest is Bancomext, which is directed by Juan Pablo de Botton, a bank of the federal government.

When the federal judge admitted Probiomed to tender, he did so because of the insolvency to pay debts of at least one thousand 680 million pesos, since its assets were barely enough to cover 11.6% of the debt.

Of the debt, 23% corresponds to Bancomext, of the syndicated loan contracted in 2016 with BBVA, Citibanamex, Santander. He even owes it to the Federation Treasury!

Probiomed stopped paying its debts since the beginning of 2018 and the bankruptcy judge, in the last performance last week, fined him for not delivering even the updated financial statements to the receiver of the contest.

In January last year, he entered a competition with UNOPS and was awarded a contract to purchase the oncology Filgrastim and Ondansetron, which are used in paediatrics, and in the latter, he added Interferon for sclerosis. With the purchase, Insabi put itself at greater risk because no one can ensure that it delivers it in a timely manner, as it has not been able to comply with the 303 creditors of its bankruptcy.

datum. It is said that to win the tender, Probiomed lowered prices, as in the case of Filgrastim, but, in the urgency of Insabi, one would expect it to contract with companies that could secure their deliveries and with a less uncertain future.

FROM FUND TO FUND

#MonicaAspe... CEO of AT&T Mexico, has had very good results at the head of the subsidiary, to the extent that the performance was mentioned on a couple of occasions in the results conference by John Stankey, CEO of AT&T, who has the focus of the company on the deployment of the 5G network, the addition of subscribers to its newly launched HBO Max (which left dancing subscribers of HBO Latam and Go), and the expansion of its fiber market.

The total revenue of the Mexican subsidiary was 688 million dollars, an increase of 43.3% year on year due to the increase in sales of equipment, especially high-end (241 million dollars, 78.5% higher in annual terms).

Revenue from connectivity services increased 29.6% year-on-year, closing at $447 million in June on foreign exchange earnings, net increase in the subscriber base and growth in other services. The company's operating losses in Mexico were reduced to (-) $129 million, against (-) $173 million in the second quarter of 2020.

Operating profit was $21 million, an improvement of $79 million year-over-year and $10 million against the prior quarter. It had 65 thousand net additions, 20 thousand postpaid and 9 thousand disconnections.

Aspe is confident of sustaining revenue and profit growth (it obtained the highest parameters in the last 6 years), and hopes that the AT&T Offer Will support it, so that the consumer is the one who decides his plan and does not have to adhere to a fixed plan, will be a factor of postpaid change.


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