Biotech Values

[mouton29]

Re: Idenix

Dew, if, as you pointed out to me in a series of posts (51243 and 51279), NVS really only has a right of first negotiation, why is Idenix describing the rejection in their press release as follows:

" Novartis Pharma AG has decided not to exercise its option to license IDX184,"

This is not mere word parsing. Their press release wording makes it sound as if NVS had an option and decided they did not want to exercise it, whereas a mere right of first negotiation could fall apart for a variety of reasons, including that IDIX had a different and more optimistic view of the drug than did NVS.

Perhaps the conf call sheds some light on this, and I will try and listen later today.