Interesting that the Bernstein analyst had no note about Generic Copaxone. Well, at least this explains the "weakness" of the past few days. I look forwad to the reversal.
The bogus Bernstein report in January caused MNTA’s share price to run up substantially, which probably enabled a Bernstein client (or the firm itself) to cash out at a better price.
I think it is fair to say something of a similar nature has occured here... The large PUT action before this was released all makes sense now...
As some other posters have already posted, MNTA’s current valuation entirely or almost entirely discounts a Teva generic entering the market in the near future.
Sanford Bernstein’s Tim Anderson is at it again; he’s now touting the notion that PFE will sell off “non-core” businesses. This is hardly an original idea, but Anderson is dead wrong, IMO, about PFE’s plans for its so-called Established Products division:
Anderson sees the potential for Pfizer to spin off five of its nine distinct business units: animal health, consumer health, nutritionals, Capsugel, and established products. The biggest unit would be Pfizer's established-products division, which includes generic drugs. Anderson said this unit generated sales of $10 billion for 2010, but probably would grow to $17 billion in coming years when Lipitor and other products lose patent protection.
He doesn’t get it—PFE’s Established Products division is the vanguard of the global pharmaceutical industry, as detailed in #msg-59590951.
Anderson gets my vote for the honor of least trustworthy drug/biotech analyst on Wall Street. For those who may have forgotten, Anderson is the analyst who trumpeted in Aug 2010 that Teva’s Lovenox approval was imminent (#msg-52999229).