Biotech Values

[kmastra]

LGND

Also sold LGND to early...
I think the star is their business model. Having flat expenses and growing revenues driven by higher royalties leads to a acceleration of profits + royalties are tiered and now growing in higher percentage ranges (Promacta, Kyprolis) which again accelerates growths of profits.
Not so sure about the significance of their royalties for the BACE program (they got it from the Pharmacopeia merger). Would be surprised if it is bigger then 2%. But meaningful anyway.
One other royalty generating stock i like is Skyepharma.

Morphosys and ARRY als have big partnered pipelines...