The analyst who said the royalty rate is 20% is mistaken; MNTA has publicly disclosed that the gross royalty rate is “high single to low double digits.”
For valuation purposes, I assume the Lovenox net royalty rate for MNTA in the multiple-generic case is 10%; this takes into account the royalty MNTA will owe to MIT for licensing MIT’s intellectual property (#msg-41324486, #msg-33839413, #msg-12685766).
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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