Amphastar gets the stay on appeal, and Watson says it will launch. Trial on merits set for October. What is unknown (to us) and somewhat important, is on what basis the appeal was granted. If on likelihood of infringement, not a good sign. If on irreparable harm grounds, better. Settlement seems more likely now, especially if the latter, IMO. Potential damages are huge, but seem larger on Amphastar's side of the ledger. And educating a judge on highly technical matters is hard enough, but how about a jury?
I had peeled out of all my trading position and 25% of my core position a few days ago on the recent run up, but that was out of respect for the fuzzy and somewhat binary nature of the mCopax legal news in the offing. Which, of course, is still out there. If that goes the wrong way, this pup could see high single digits.
Dull moments don't last long with this one.
Cheers, Tuck |
