While I believe Teva walking is another disaster for MSB I'd like to question the notion that Teva are ascribing no value to the project. I seem to remember that they were up for 1.4 billion in milestone payments or thereabouts which presumably would be payable following FDA approval. That's a lot off money for any company to cough up before profits start pouring in so I think it's reasonable for them to walk on this basis while still thinking that the cardiac therapy is worth more than nothing.
I also think SI should be condemned for the "delighted" announcement. I would have had a lot more respect for him and MSB if they had begun with "We're disappointed with Teva's decision but this is how we're going to move ahead" rather than pretending everything is just perfect. I don't feel I can trust anything they say now.
MSB Price at posting:
$1.28 Sentiment: Hold Disclosure: Held
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