Biotech Values

[urche]

Is this statement taken out of context or am I missing something?

"We're holding on to our stake, since it's a strategic decision [i.e. to pressure Roche for a merger] and so far we've done well with it," he said. "Should Roche want to raise equity, we'd have to agree with that."‹

How could this "strategic " decision be successful for NVS, if the strategy is to gain control of Roche, which has clearly not happened. I assume the CEO meant to say that the stake in Roche has been successful financially , as an investment.
Also,, what is the point in even stating the obvious that if Roche wants to raise equity, NVS would not be in a position to prevent it?
Seems like a story that got lost in translation to me.

Dew, I have not looked at your holdings lately. Did you actually sell NVS or do you just feel that other big pharmas (ABT, PFE) are better values?

Urche