This is not a phenomenon unique to BTA.
ACL just received FDA approval (via their licensee, Dr Reddy's) to sell their Generic drug, Fondaparinux. This complex (to manufacture) drug is the only generic and the original (a GSK drug) has/had a $300m annual market up till now. ACL/Reddy's are expected to take 40% to 50% of the market and ACL is expected to nett approx $30m per year, conservatively.
The Dr Reddy's market cap has risen around $200m on the news (they will profit no more than Dr Reddy's), while ACL is now the same price as it was 6-8 weeks ago.
ACL also has some other amazing pipeline products that are not far many years away from approval.
Go figure!
Just take a look at the ACL forum if you want to understand how a sure thing is not (yet) reflected in the price.
BTW, ACL holders cannot fault their CEO.
what is actual procedure to replace bta ceo?, page-28
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