Biotech Values

[jbog]

Dew,

Thanks

From Sandoz's Year 2009 year end statement, I had RD at 7.7% of net sales. I'll pull the first two quarters of of 2010 to see how they tracked, but we should be able to see what Momenta paid (50%) back this quarter.

6k:
R&D costs declined (6.0% of net sales; +2.2 percentage points) and also improved core operating income margin due to the recovery of co-development expenses from an external partner as well as continued productivity savings.