Yep, I am both puzzled and surprised by their action.
Clearly they have inside info relating to their joint products with MNTA, included, but not limited to patent office expectations, Glatopa acceptance and sales, 40 mg likelihood of FDA approval. To sell now suggests a bit of urgency. While the optimists are hoping for good news later this month, which if it were to occur would suggest a slight bump at least in the stock price, selling now appears to make no sense. I can understand the registration to sell so NVS could take advantage of a major pop, but selling shares already suggests that is not their intent or expectation. They certainly are in no need for cash as $55 million has to be chump change for them.
Trying to figure out why now. Could NVS be planning to spin off Sandoz and wants to clean its books of any Sandoz partner holdings prior to a spinoff? Just wildly speculating.
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