Jay, a business partnership i believe has the same liabilities/risks that a merger does for a joint business. I believe what you are trying to refer to is a business agreement/ joint venture. This can take the form of a pipeline development agreement, which can be exclusive, depending on how the agreement is structured. I believe this might be what you are trying to get at with Novovax and Baudax on the stages of drug development lifecycle . As far as a share for share agreement i have no idea why they would do that outside or acquisition/merger.
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