...specific segments of business, HCV, Nash, RSV, HBV.
ENTA is no longer doing drug development in HCV, so the HCV portion of the company's intrinsic value consists of the passive royalty stream from ABBV. Hence, your question boils down to the value of each of the two virtual companies described in #msg-138369686.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”