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Hi Optimus,

I do not know where your operating margin comes from, but hope that you are aware that Biota receives milestone payments running in the millions for their products.

Once the Biota has parted with the products the costs of further development lies with the Drug Company.
But the royalies like with Relenza will flow to Biota once the product is in the market.

I could go over every single figure and post it here but I want to get some sleep now, so I leave it to you.

Lucky the market, as usual will do the talking for us tomorrow.

jojo