Biotech Values

[DewDiligence]

Three comments on Judge Gorton’s ruling to retain the PI pending appeal:

1. It’s tenuous to base any ruling on SNY’s behavior insofar as SNY is not a party to this litigation.

2. However, if Judge Gorton had not accepted NVS/MNTA’s argument that SNY’s AG has been suspended because of the PI, he would presumably have found another reason for maintaining the PI, so the alleged suspension of the AG may not be as consequential as the Judge’s ruling makes it seem.

3. Regardless of what SNY ends up doing with the AG, I expect the Lovenox duopoly to remain essentially unchanged, as discussed in #msg-68742103.