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Replies to #30862 on Biotech Values
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rkrw

07/01/06 3:17 PM

#30864 RE: DewDiligence #30862

Actually I think the 950 deal was a lot better than the idix deal. I prefer the 100% US plus 25% royalty ex-US over the profit split of the idix deal. Big reason is not giving away any upside of the US and secondarily not locking themselves into one company like idix did with nvs. In the long run contolling the US is worth a lot more than sharing it for biobucks.

I believe the vrtx deal was the 2nd biggest priced deal, ever, where the US commercialization rights were retained. So imo thinking they could have or should have done better are misplaced at best. And the comparison to what nvs paid idix is apples to oranges. Compare it to fibrogen or mlnm, where at least you have apples to apples structure comparisons.