Nomura equity has come out with a report on the 25th of october...

Nomura equity has come out with a report on the 25th of october that in the last quarter it is too early to see impact of lower rebates on net sales as impact should flow in 4qcy12 and beyond.They mentioned in the report that lily has reduced their maximum rebate to $150.00 from mid aug 2012 and that axiron has been promoted to tier 2 level on two of the largest pbm's formulary lists in the us (express scripts 155 million members) and cvs caremark (85 million members).The market is still growing at 30% so it looks like that there is plenty of blue sky left.