That's been an atypical source. So if a year ago you had asked me where do you think you're going to be able to acquire some of these assets I would not necessarily have picked that group out. But it's interesting that it is a very receptive discussion right now. We also reach out to sort of the traditional folks. We have a couple of conversations going on with universities as well as one with a large pharma where they're looking to monetize an asset that's not core to their business. We have seen a couple more of those than we've seen in past years, particularly with all the M&A activity in big pharma where A buys B. They bought it for a bunch of products and in the mix is some royalty from something and they want to monetize it. In some cases, to defray [ph] their acquisition cost.
Sapna Srivastava - Goldman Sachs
Then we think about the different structures you're describing, what falls under it? What kind of – you described some companies, universities, big pharma. And I guess what are they trying to do? Are they trying to sell you a part of the royalty stream and so you have to – how does that get extended? What kind of revenue stream can it bring you?
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV