Biotech Values

[fudoo]

I did not claim that Baxter's withdrawal from the heparin market accounted for the "magnitude of the pop in APPX's share price." But you did by implication.

I pointed out the simplemindedness of the claim that "This is an example of market inefficiency: the contaminated-heparin episode did not create value for heparin producers in the aggregate".

Feel free to die on any hill of your choosing but the combination of increasing pricing power and falling cost pressures is the definition of a product space that is increasing in value.