In other words, the opposite of the synergies seen or hoped for when companies merge. This is mentioned in the 10-K. The other usual caveats about mid-cap biotechnology firms also apply. A caveat about taxes is important enough to have its own section below. 2016 results In the 10-K Bioverativ reported 2016 revenue of $887.4 million. In my prior article, I estimated 2016 revenue at $830 million. I had not included collaboration revenue of $41 million in 2016, and I was also a bit conservative in my Q4 revenue estimate. 2016 Net income was $439.6 million, and EPS was $4.07. Guidance for 2017 revenue growth is 17% to 19%. I had estimated 2017 revenue at between $971 and 988 million, net