No buyout. Abbott doesn't need to buy them because they already own the rights to Elagolix. A buyout only happens if they drug gets FDA approval at this stage. The pipeline is not so developed. Abbott has the luxury of developing Elagolix and if it works then I agree that a buyout is possible. I'm doubtful that it will happen otherwise.
I got the feeling from the call that the timelines for Elagolix are a little hard to predict. It's certain that the Phase 3 will launch but whether that is this year or early in 2012 isn't really up to Neurocrine at this point. Abbott for sure isn't going to rush to please Neurocrine shareholders.
Personally, I am loving the option chain right now...very bullish, lots of calls going into earnings...opposite of a $HGSI situation, where if you were paying attention to the heavy put buying you;d saved a lot.