My take is that J&J would still like to do the deal but that Guidant is unwilling to negotiate the price enough so that J&J is satisfied.
Three years from now, Bristol could easily be viewed as one of the best.
You're really setting the tone that Bristol can deliver $1 billion-plus products to market. That's something that a lot of people have been skeptical of.
The fundamentals are certainly better for the Europeans, which is why they have the premium.
