Biotech Values

[DewDiligence]

Re: MNTA /NPV of potential Lovenox damages

If MNTA wins in District Court, I expect AMPH to appeal and drag out the litigation as long as possible rather than settling. So, even in the best case, an actual cash payday for MNTA is probably a few years away.

Moreover, AMPH might not have the financial resources to pay a large damage award, so the enforceability of AMPH's indemnification of its co-marketing partner, Watson Pharmaceuticals may be tested in court somewhere along the way.

Further, any amount collected in damages will be shared by MNTA with its partner, NVS, and will be subject to taxes.

All told, I figure the net present value of MNTA's portion of potential Lovenox damages is $120M, about $1.50/share.