Next couple of days, page-16

@CaptainBarnacles

From those articles, it is clear that Valeant's deal with Walgreens, wrt Jublia, is highly favourable to Walgreens, and highly unfavorable to Valeant (to put it mildly). It is also clear that this arrangement is unusual and has surprised industry observers.

On this basis, there is no reason to assume that the lower number ($50m) is more representative of the addressable market than the higher number ($280m) - quite the opposite I would suggest.

Whatever arrangement Walgreens may have with Valeant, wrt Jublia, is their business. However, there is no reason a new seller of a Jublia generic should care a jot - especially as they need not sell through Walgreens.

My considered opinion then, on balance, is that to change one's investment premise wrt Acrux, on the basis of Valeant's imbecility, is to jump at shadows.