…but I doubt if NVS shareholder feels the same way.
I strongly disagree. By any objective measure, the NVS-MNTA 2003 collaboration to develop Lovenox for the US market has superb terms for NVS. So much so that Craig Wheeler and Rick Shea can often be heard on investor webcasts sheepishly apologizing for the Lovenox deal terms and reminding investors that MNTA negotiated a better deal for Copaxone.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”