Idenix Pharmaceuticals (IDIX)

[DewDiligence]

>has the rationale changed?<

Yes—the rationale for a buyout just became stronger.

The decision on what to do with NM283 has clearly strained the relationship between NVS and IDIX. (This is likely the reason for the recent executive turnover at IDIX.) If the companies cannot enjoy a productive working relationship as currently configured, then NVS night as well run the show solo.