Off the top of my head, $1.3 billion sounds like a lot of money. I think it will be a billion dollar drug but it will take some time.

The study certainly isn't ideal for Pfizer. There were some positives for Pfizer, and they will have to go out and do some education (on them).

I'd hate to bet against Mark Lanier. He knows how to beat them. I would say the odds are probably against Merck in this case.

You are not going to be able to watch a television show without seeing a commercial for a sleeping pill.

I think Bristol-Myers is an excellent takeover candidate. It has a bloated cost structure and some really good mid- to late-stage products.

I think if they lose it really creates a negative vibe for the stock.