Theravance/Astellas: Quality Deal but without the Brand Name

Branding works--in packaged goods and among investors. That's why, rather than taking Theravance's rich marketing deal with the Japanese company Astellas for the antibiotic telavancin -- rich in comparison to the best licensing deals signed in the segment -- as a net positive for the company, shareholders seemed disappointed.

Branding works. In packaged goods; in insurance; in the movies. And among investors.

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