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DewDiligence

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DewDiligence

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Re: DewDiligence post# 114429

Wednesday, 04/20/2011 5:54:24 PM

Wednesday, April 20, 2011 5:54:24 PM

Post# of 257580
GILD is selling off in AH trading; the causes are:

• Reduced HIV reimbursements from the ADAP programs in TX and FL due to uncertainty regarding the US federal budget.

• Lower Tamiflu royalties from Roche due to the absence of a pandemic threat. (This should have been fully known since GILD books Tamiflu royalties from Roche with a one-quarter lag.)

• Uncollectable accounts receivable in Southern Europe.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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