Insmed Inc (INSM)

[wjlknew]

<Jurors found that Insmed infringed all three of Genentech's U.S. Patents and provided monetary damages to Tercica consisting of an up-front payment of $7.5 M and a 15% royalty for past Iplex sales ranging from $0 M to $100 M and
a 20% royalty for past Iplex sales over $100 M.>

I would like for Lazard to have it right, but I am afraid they do not.

It would make no sense whatsoever for the jury to award 15% of the first $100 million of PAST sales and 20% of over $100 million of PAST sales when past sales are less than $1 million and cannot increase ... because they are PAST.