The Tarceva giveback was sui generis insofar as PFE had no say in the matter (if they wanted to close the Pharmacia merger). PFE may now opt to terminate some drug-development collaborations with small biotech companies, but I don’t think we should expect them to leave significant money on the table.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”