Biotech Values

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Key items from GS HCV survey:

1. 75% physicians from survey have prescribed Sovaldi, 80% GT1, 20% GT2/3. Among GT1, 38% trt naïve, 25% trt experienced, 15% cirrhotic.

2. Treated with Sovaldi currently vs deferring trt: 30% vs 35%.

3. Physician awareness: Sovaldi/Ledipasvir vs 3 DAA 75% vs 56%. After review of clinical data, 70% thought efficacy and safety are about the same, 25% thought 3 DAA efficacy better, 50% thought 3 DAA convenience worse.

4. GILD vs ABBV/ENTA market share: price parity vs 10% discount vs 20% discount = 32% vs 40% vs 50%.

5. Physcians predicting 60% increase in capacity to treat the cumulative number of patients from current level. Thus GS increased near-term Sovaldi estimates, but lower outer-year estimates.

By the way, ABBV, please come up with a catchy name so it will be easier for everyone to refer your 3 DAA regimen!!