Twigman, further to your list of top 25 Pharma, I have had...

Twigman, further to your list of top 25 Pharma, I have had nothing to do on a rainy Australia Day so I have been looking into the Respiratory global market. There are 500 million people with respiratory disease, most with cancer followed by asthma then COPD. 70 million have COPD and by 2020 it will be the 3rd biggest cause of death. In contrast to heart disease, cancer, infectious diseases the mortality rate for people suffering respiratory disease has doubled in the last 40 years.
Global Respiratory Market by Company
1. GSK
2.Boeh Ingleheim
3. Astrazeneca
4.Merck
5. Roche
This was mid 2015 however Novartis are expanding in respiratory and are now probably 4.
A UK company called Verona was raising cash last year to complete 2 Phase 2 trials in COPD and asthma.
In their prospectus they say that big pharma are chasing drugs they don't have in their pipeline (interestingly, they don't mention Invion when comparing other competitors ). However according to this company, over the last 5 years the median price paid for phase 2 assets in asthma and COPD is $285 million US.