At the average exchange rate during 1Q11, the €222M translates into roughly $310M. Since NVS sold $247M of generic Lovenox in 1Q11, we now know that NVS had a 44% share of in-market dollar sales during the quarter, which is consistent with what NVS said on its 1Q11 CC.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”