Biotech Values

[DewDiligence]

Viekira-Pak info from ABBV’s 4Q14 CC:

• ABBV expects worldwide V-Pak sales to attain a >$3B annualized run rate by the end of 2015.

• In the US market, V-Pak is now covered by more than 40% of insured lives; more than 20% of insured lives cover V-Pak exclusively.

• 1,100 US V-Pak scripts have been written through 1/16/15.

• ABBV will submit of the 2-DAA Viekira NDA in Japan during 1Q15, and approval is expected in late 2015. (Note: ENTA’s royalty rate on the 2-DAA Viekira is 50% higher than on (3-DAA) V-Pak.)