Probabilities of Loss of a Major Customer Worrisome: Collectively, 5 of Cardinal Health's main customers, including CVS, accounted for as much as 40 % of its revenues. (themaven.net)
This, combined with the company's finite life, leads me to conclude that there is actually a very low probability of loss on PDLI shares if purchased south of $ 5 and one is willing to hold 4 to 5 years. (longtermvalue.wordpress.com)
Expectancy = (Gain on a Winning Bet x Probability of Win) + (Loss on a Losing Bet x Probability of Loss).... (investorjunkie.com)