"This final sentence carries a lot of information. It does put a lid on the scale of the placement - my guess is around $100m which should limit the dilution pain. More importantly, it rules out any chance of FDA approval of any product in the near future. I would not put much weight on Novartis coming to the rescue either."
FFS, have you never heard of accelerated approval with phase 4 confirmatory trials?
Ann: Half Year Report and Accounts (including Appendix 4D), page-88
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