Vincent, take some entry-level finance courses and get back to us. Sure, the variable margin is high, but it's the net return on investment that matters. It takes years and hundreds of millions to get a drug to market. No company is going to put money into a drug if you're going to skim off all of the variable margin.

It's nonsense. Genentech wouldn't exist if we ran things your way. And the Gov't sucks at productizing R&D.