Biotech Values

[zipjet]

And, if so, is there any scenario wherein MNTA could revert back to profit share mode with NVS on mL? (I'm assuming the answers are 'not likely' and 'no.')

I would guess the answer is no too.

But that really misses the point IMO.

Profit maximizing behavior by SNY will still govern if they have two products (branded and AG) and remain rational. So even without backing off of the AG launch, they will not want to so disturb a profit maximizing equilibrium as to hurt their profits. And they have lots of tools to use to do that.

Thus, under the hybrid profit sharing model, there is still a lot to be gained by the PI issuing if SNY behaves rationally.

ij