Biotech Values

[genisi]

I would argue that the sum of probabilities from these events doesn't exactly paint a great picture for TEVA's share price in the potential interim either

No need to argue, I agree.

If tL approval even happens, as you note, that may be just a moral victory that doesn't flow to the bottom line in a big way.

Yes on the bottom line, but it would give Teva a better position in a settlement scenario with MNTA/NVS on mC.

I think TEVA should seriously consider doing a deal for XNPT's potentially better BG12 candidate

I'm sure Teva will make additional deals and acquisitions, but XP23829 will only enter the clinic next year and Teva is usually looking at much more advanced candidates.