Biotech Values

[acgood]

MRK seems to exude the air that they think they have whatever pieces in place for biosimilars and are now just executing as they wait for more regulatory guidance. I would need to see some indication that they are looking to make an additional, significant investment in the field (which an MNTA deal would presumably require).

For SNY, the reason is simpler and more petty. As I believe I've posited before, I am just skeptical that SNY has the managerial fortitude to do a FOB deal with MNTA after getting burned on Lovenox. But perhaps I weight this too heavily in comparison to the proclivity to protect a history of branded biologics against the potential of generic competition that you have discussed in the past.