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DewDiligence

08/13/16 7:42 PM

#15786 RE: Regulardoc #15785

To sell now suggests a bit of urgency.

Respectfully disagree. If NVS had sold the whole lot (or a big chunk of it) in a secondary offering, that would have shown true urgency. What NVS is actually doing—spreading out the sales over a 5.5-month period—shows a lack of urgency.