Rocky3,
I've been trying to match up Enta's royalty stream with Abbvie's sales and unless the income is recorded in later time periods I'm having a little trouble.
In Q2 Abbvie made this statement:
Global Viekira sales in the quarter were $225 million, down versus the prior year. In the coming weeks, we expect U.S. and European regulatory decisions for our next-generation HCV treatment, MAVIRET. Based on the timing of reimbursement decisions outside the U.S. and managed-care contracting cycles in the U.S., we expect to see meaningful sales contribution from MAVIRET starting in 2018.
In response Enta recorded (Q3) Total revenue for the three months ended June 30, 2017 was $7.5 million (approx 3.3%)
In Q3 Abbvie made this statement:
Global HCV sales in the third quarter were $276 million. During the quarter we received regulatory approval for MAVYRET, our next-generation HCV offering in the U.S., Europe, and Japan. While we are still in the early stages of our launch, we've been pleased with its initial uptake globally, and physician feedback on the product has been very favorable. Global sales of MAVYRET approached $100 million in the quarter.
In Response Enta recorded (Q4) Product Revenue of $10.9 Million and $65.0 Million in milestones.
Total revenue for the three months ended September 30, 2017 was $75.9 million. The increase in revenue for the quarter was due to $65.0 million in milestone payments for the U.S. and EU approvals of AbbVie’s new HCV regimen under the tradenames MAVYRET™ and MAVIRET™, respectively.
With the 'almost' $100 million in Mav sales I would have expected the Revenue to be higher than 3.9 percent in aggregate. There must be many levels or another entry I'm not aware of.
Any Thoughts?
AI
