Biotech Values

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9. To get from a 35-40% drop in volume to the 40-50% drop in operating income calculated in #6 above, the reduction in SNY’s average selling price would have to be at most 1.0–(0.50/0.65) = 23%.

Interesting stuff. Use different combination between 35-40% and 40-50%, you get price discount range of 17% to 39%, very close to Sandoz pricing and what we heard about 40% discount for certain providers by SNY.