Replies to post #129834 on Biotech Values

[iwfal]

MNTA - One more comment on royalty split vs patent settlement terms:

The existing terms are clearly about preventing the entrance of another generic (i.e. secrecy) - something that patents are poorly designed to do per the licensing terms in the contract (e.g. the recent triggering of move to hybrid was a hair trigger - something the patents would have a hard time preventing). I would expect defense of the patents (including creating them) to be differently incentivized.

Momenta has noted for a long time that Sandoz, at the time of the Lovenox signing, did not believe in Momenta's IP edge - so it would be odd if they incentivized it the same way. (OTOH I'd expect the Copaxone patent split to be much closer to the same as the Profit Sharing split)