why mesoblast will drop substantially , page-161

"Correct, but the up front costs/servicing costs for Teva were going to an order of magnitude higher than they would be for MSB. And the potential revenues for Teva were going to be way lower (as they were going to have to pay large royalties). Consequently, tubby is correct - zero net worth from Teva's perspective does not necessarily mean "worthless" to MSB or another partner."

Absolutely, but Teva having being dealt a bum hand, implies that MSB - as the counterparty - was sitting on a lucrative hand.

And now the lucrative hand has been blown away by the wind, what your post really serves to highlight is the folly of the CEO saying he is delighted that Teva have withdrawn.

And as for "another partner" waltzing into town with a big cheque book in hand, how on earth - I'm wondering - do prospective new partners do any proper due diligence on what they might be getting into in relation to this trial given some of the stringent disclosure protocols?