Eliquis observation: When PFE agreed to pay BMY $250M in up-front cash and $750M in potential milestones for half of the worldwide commercial rights (#msg-19134406), many investors thought that was excessive. However, the Eliquis partnership now looks like one of PFE’s rare manifestations of business acumen.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”