…even though the market is primarily split by only 2 companies/regimens today [i.e. ABBV/ENTA and GILD], many more made money along the way (VRTX, JNJ/MVIR, MRK, BMY)…
Good post; however, I doubt that JNJ, MRK, and BMY had sufficient cumulative HCV sales to cover the all-in development cost of their HCV programs, which included the IDIX and INHX deals, among others. Even VRTX probably had a rather modest return on investment, all told.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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