Replies to post #64000 on Biotech Values

[DewDiligence]

>APPX – It was trading around $10-11 when the whole heparin thing came out.<

This is an example of market inefficiency: the contaminated-heparin episode did not create value for heparin producers in the aggregate but rather transferred value from BAX to APPX. Yet BAX’s share price was unaffected by the episode.