Replies to post #172 on Pharmasset Inc. (fka VRUS)

[DewDiligence]

…many investors stated that GILD was overpaying.

Many, but not everyone. In a survey I conducted at the time of the deal announcement, 60% of the participants thought GILD overpaid: #msg-69242677. (I was one of the votes for the “about the right amount” answer.)

Today's news didn't appear help the long side.

Today’s news makes GILD somewhat less valuable, but it doesn’t make any material difference in how much VRUS is worth because GILD does not have an opt-out clause for PSI-938.