Biotech Values

[MTB]

Thanks, Dew for the clarification of Markman.

On the royalty figure, if the 10% figure would be multiplied by the total Lovenox sales booked by NVS -- which others have previously mentioned as effective annualized run rate of $292M(365/97) = $1.1B -- then chop 50% given the introduction of a competing generic with loss of market and decreases in price, MNTA would still be looking at royalties in the range of $50 million/year -- which would cover all expenses for the foreseeable future?

This (unlikely) outcome, while not attractive, doesn't sound like armadedon to me. Am I missing something here?