From Morgan Stanley report on GILD today. I already posted this on Twitter but thought I would try to copy it here - mostly for its comments about MRK being "rational," clearly implying that ABBV was not with its price cuts.
They were more candid with me and said that ABBV "shot themselves in the foot".
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone ... where it is often impossible to bring one's ideas to a conclusive test either formal or experimental. J.M. Keynes