According to GILD (as mentioned on today’s CC), the number of U.S. HBV patients being treated with some drug has increased by 50% (from 32K to 48K) during the past 24 months because new drugs (e.g. Baraclude, Tyzeka) are expanding the market rather than merely stealing share.
Here’s a graphic representation of this (as of 11/06):
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”