Biotech Values

[jq1234]

I don't think GILD's 1Q patient composition number reflects general US HCV population. It is going to or has to change as time goes on. Based on conservative estimate of 3.3m infected people in US in 2013, commercial is about the same size as VA and prison combined in 700s thousands. Medicare non-dual is only in 100s thousands, medicare-medicaid dual is twice as large while medicaid is about 3 times as large. The largest segment is uninsured, about 1/3 of total.