Doesn't this imply that Teva has an uphill fight to gain approval for T-Enox? Let's see, a perpetuity of $360 million from M-Enox, less taxes at 35%, equals $234 million. With a discount rate of 12.5%, the present value of M-Enox royalties is $1.872 billion. Then you add back the current cash and A/R, etc.