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DewDiligence

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Re: pollyvonwog post# 184998

Monday, 12/22/2014 10:44:01 AM

Monday, December 22, 2014 10:44:01 AM

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Do you expect more deals like [ESRX] from ABBV?

I do not expect more deals of the same magnitude. For instance, if ABBV tried to lock up CVS (the second-largest PBM), I think they would risk a full-fledged price war (and possible legal action, as discussed in #msg-109276725).

Instead, I expect ABBV to ink some smaller deals (which may not even be publicly announced), and to generally behave like a duopolist, leaving enough business for GILD to avert destructive price erosion.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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