Biotech Values

[mcbio]

Yes on the first question.

The answer to the second question is technically no, but is yes from a practical standpoint. I.e. the “hybrid” economics in the NVS-MNTA Lovenox agreement remain permanently in effect once an AG has been launched; however, if sales of the AG tail off or go to zero, the threshold at which NVS’ Lovenox sales in a given launch year switch into 45%-profit-share mode (rather than royalty mode) also decreases, which has the effect of increasing MNTA’s net take.

Thanks DD. Makes sense and makes the decision on the PI all the more important IMO.