Pace Money Stuff today on large institutional investors should call up Gilead and tell them “Don’t sweat the profits just make a treatment for coronavirus; we can take the loss on your stock to make gains across our portfolios.”: Couldn’t you do this via basically proclamation?
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Now that the Feds are intervening with ETF shares. Couldn't Congress/shouldn't congress do this? Kinda same idea with PPP government should have guaranteed certain # will be purchased no matter what.
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They've already pledge 1.5 million doses for "compassionate use, expanded access and clinical trials and will be donated for broader distribution" https://www.gilead.com/stories/articles/an-update-on-covid-19-from-our-chairman-and-ceo … Also https://www.statnews.com/pharmalot/2020/05/12/gilead-generics-remdesivir-covid19-coronavirus-licenses/ … .
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Accepting the logic, Q probably becomes whether there is a price X Vanguard can/would offer that’s higher than price Y Gilead would achieve if they own the exclusive treatment and could otherwise demand a king’s ransom. Is it obvious X > Y?
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If you get, say, Vanguard/Blackrock/TRowe/etc to all agree on said price, then X>Y becomes a lot easier! But also quickly becomes a much more real antitrust (I think?) issue
End of conversation
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This seems quite illegal.
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Extremely interesting proposition. It's basically in everyone's economic interest to see a solution here, and it shouldn't be tied to the marginal economics for a single player.
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