In 2Q11 (the most recent quarter for which I’ve done the calculations), NVS had a 35% share in the hospital segment and an 86% share in the retail segment—see #msg-65934604. Insofar as SNY made no attempt to capture sales in the retail segment, its 14% share there must have stemmed from generiphobia by some prescribing physicians.
Now that SNY will actually compete in the retail segment, I expect the end result to be that SNY and NVS each achieve a 45-55% share of each segment. It may take a few quarters for this to play out, however.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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