SF, First and foremost “who knows” for sure!......

From my perspective the ROFR was firstly a way to get RVX much needed cash. That being said I have always thought that HL’s main motivation to be in RVX was the great potential for them in their main business, pharmaceutical manufacturing. To me they have been forced into a step up or lose it position by Eastern and are taking advantage (as they should) of this situation to possibly increase the scope of their manufacturing potential. I think the short locked in period (60 days) means they probably know who RVX is negotiating with right now (a board position would infer this) and want to be sure for their potential increase in risk that they have a potential increase in reward. The way I see it that reward would be first and foremost an increase in manufacturing territory. I think if I was HL I would already, at the global corporate level, be discussing potential partnerships with existing partners who would be interested in the RVX IP from a sales perspective.

One question I have is after 60 days what does HL get if RVX terminates the ROFR deal?  

I always thought it was interesting that HL’s RVX board member was from HL USA when the deal is with HL corporate (China). Could be just geography but it would also be a way to keep the RVX board member unconflicted wrt other HL corporate discussions that could involve HL’s vision for RVX.