code of conduct question, page-2

Miso

Looking for any avenue to attack management. It is my understanding that BTA do not even know the royalty to be received by them prior to GSK releasing it to the UK market. And why should they? It is price sensitive information to GSK shareholders and why would GSK release that outside their own company. Especially to a company and management that you think they have screwed over in the litigation process. I'm sure the UK market has disclosure rules pertaining to the release of price sensitive information as well. BTA management could argue that as they do not know if the information is going to be price sensitive to the positive, the negative or neutral, then. Given past recent 'lack of movement' on dissapointing GSK relenza sales and BTA royalties BTA management could argue that on recent history it is not price sensitive. The price sensitive information is not coming from BTA it is coming in the first instance from GSK. Would you require disciplinary action if the result from GSK is to the negative and the share slumps to $0.40?