Biotech Values

[DewDiligence]

Although Teva presumably expected the low-volume Copaxone NDA to be rejected, there was, of course, a minute chance for approval, which would have given Teva a chance to hold onto more of the Copaxone franchise.

In the more likely event that the NDA was rejected (which has now happened), Teva realized a propaganda benefit that management will now trumpet to anyone who is gullible enough to listen (e.g. jbog in #msg-58084585).

All told, Teva had a considerable upside in submitting an NDA for low-volume Copaxone. The only downside was running a single trial whose cost was trivial for a company of Teva's size.