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  • bennieblondie2008 bennieblondie2008 Apr 5, 2011 7:14 PM Flag

    Don't know what some of you are smoking

    if Inspire's non-cash assets (primarily consisting of the North American license to market Azasite)are worth $350M, then how can InSite, with the Durasite franchise, the Azasite market outside of North America, and the pipeline possibly be worth less than $350M, or $290M after taking INSV's $60M outstanding loan into account? I don't see how that's remotely possible. Absolute minimum buyout price for INSV should be >$3.00.

    And I don't particularly care what Pinto's basis in INSV stock is. There are larger issues, such as how their overall portfolio of investments in start-up & early stage companies is faring. If not too well, as I suspect, then they probably need a home run; and they might well have one in InSite, now that INSV is getting its s*** together. It they have any smarts -- and it's possible they don't -- they will use ISPH's purchase price as a benchmark to measure INSV's value, and negotiate accordingly. I suspect the ultimate prize for MRK is INSV, not ISPH, unless ISPH has some valuable assets unrelated to Azasite.

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