Anavex Life Sciences Corp (AVXL)

[Steady_T]

The delay you suggest is not that significant compared to the difference in the what the deal is worth to Anavex before and after approval.

Part of the approval process for the EMA is a review of the labeling and literature for the drug. So that will be done at approval time. Ramping up a sales team that already exists to a new product that is not complicated, i.e. a once a day pill, doesn't take long.

As a practical matter, the leverage Anavex gains in making a better deal more than outweighs the little time gained in getting revenues by partnering prior to approval.

The one caveat is a partner might see the inevitability of approval and make an offer assuming approval. Somehow I doubt that is the way it will go down.