"What a pity Biota management are content to give inventions away, rather than build a factory (like D.Sankyo did)and sell our own product."
The licence model is a low risk model. Not as rewarding either i agree. However, the cost, BTA's share, of taking a product to world market with all its testing etc would be as an estimate $200 million (BTA's share only), which 1) it currently does not have; 2) would require huge dilution of shareholders via issue of new shares or listing in another market (as suggested by Portable Alpha) and 2) is a huge risk of shareholders wealth. Imagine investing such funds and having the Tamiflu v Relenza scenario, wherein Tamiflu captures market due outside influences (Rumsfeld) and perceived ease of use).
Therefore the pursuit of the low risk, lower reward, research, develop, licence / partner model modus operandi of BTA.
cheers
BTA Price at posting:
$1.28 Sentiment: LT Buy Disclosure: Held