DNDN: How can Miller make statements about [Provenge] profit margins without knowing how much dndn plans to charge/be reimbursed?
Miler’s main point is that Provenge will have a lower gross margin than a typical biopharmaceutical. We won’t know how much lower until we know the price, but I think it’s clear that Provenge’s gross margin will be on the low side at any conceivable pricing level.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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