Biotech Values

[zipjet]

I have built models for profit sharing and royalty cases.

I do not think that you should be deducting CGS from the royalty case. That is a guess - I do not recall it being stated explicitly.

And as another poster pointed out, there will be a decline in the market size due to competitive pricing. Not sure how big that will be with TEVA in and Sanofi offering an AG.

ij