Biotech Values

[DewDiligence]

This isn't an orphan disease that they will be able to charge 400 thousand a person, like Alexion.

Understood—that’s why I’ve been harping on the market-definition issue. What, exactly, is the target market for this drug?

If MDCO can define the target market in such a way that the FDA allows them to run relatively small pivotal trials using a short-duration MACE endpoint, I think MDCO will be able to work out the issues on the production side. However, I’m far from convinced that the market-definition issue is resolvable.