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DewDiligence

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DewDiligence

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Re: DewDiligence post# 192712

Thursday, 06/18/2015 7:32:40 PM

Thursday, June 18, 2015 7:32:40 PM

Post# of 251621
MNTA’s Remaining Glatopa Milestone Payments from NVS

The triggers—but not the individual amounts—are disclosed in MNTA’s SEC
filings; the total amount of $120M is known from today’s press release
(#msg-114728661). Below are my guesses for the individual amounts.

• Milestones on the first N anniversaries [guess: N=4] of the US launch if there is no other generic Copaxone in the market and the profits from generic Copaxone exceed an unspecified threshold. Guess: $40M (i.e. $10M x 4)

• Exceeding an unspecified lower sales threshold during a 12-month period. Guess: $40M

• Exceeding an unspecified higher sales threshold during a 12-month period that does not overlap with the period for the lower threshold described above. Guess: $40M

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

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