Biotech Values

[Deadb440]

It appears clear that Dr. Friesen doesn't want to partner at all. He's apparently refused a couple of offers ( not sure of the validity of this statement) though it appears unusual for a drug who's so far along with such good PH2 results to have not had an offer. From the recent article in Canadian Business Magazine Dr.F stated that his 5 year vision for Medicure is to become a Pharma in their own right, they have enough $ in the bank to complete Phase 3 own their own and with Aggrastat sales ramping up significantly to cover other general business expenses and trials of other drugs he doesn't seem concerned...
They've registered the name Medicure Phamaceuticals as well, and with a sales force being developed to push Aggrastat there is in all likelyhood the opportunity for this sales force to be expanded and sell MC-1 as well and it's a perfect fit since Ag and MC-1 compliment each other and could be used in combined treatments.

So what if we keep the whole enchilada. No Partner. No 80/20 split with a large Pharmaceutical.

100% of the pie....?

Of course sales would take much longer to build to Significant levels say 3 to 5 years instead of 2 because of a smaller sales team.

However, in 3 years if MC-1's projected revenues are $1b (This figure coming from Dr.Friesen himself) that would mean the shareprice could potentially be $86 based on a multiple of 14 times forward earnings and the current shares issued and outstanding. If they had an 80/20 split with a pharma and the same sales they would atleast warrant a $17.00 share price. That's by June of 2010.

This has been an awfully long wait as I've been in it for 4.5 years with a very significant position but the "LONG TERM Shareholder Value" that has been the only thing Dr.F has ever mentioned as being concerned about, is starting to take shape and we can see the light at the end of the tunnel.

Even if MC-1 only generated a paultry $100m in revenues and they had 100% of the pie their share price would be $8....

There just appears to be nothing negative coming out of this story other than with no Partnership investors feel there is no validation of the science and drug, but that's just not the case.