Biotech Values

[ciotera]

Re: European governments

The question will come down to how GILD prices and positions Vosevi. If they position it for salvage (like they have been claiming all along) and ask for a huge premium, it'll allow ABBV to price at a premium to Epclusa and avoid another price war. With the implicit understanding that if ABBV prices too close to Epclusa and captures too high of a share of the naive market, GILD can always reprice Vosevi and unleash a price war.

As you know, I have always considered it irrational to believe that GILD will somehow not play their best card (Vosevi) against Maviret. If they really end up pricing and positioning Vosevi for salvage, the only rational explanation for me is the price-collusion argument outlined above.