Biotech Values

[zipjet]

Addressing that question suggests looking at what the channel should hold.

Inventory will be in both the wholesale channel and the retailers.

I would guess that the lower bound of that is for the channel to require 2 weeks of sales in those inventories. Call that $50M. maybe two weeks is too low. But if not, then there could be $100M of inventory workdown to come - said another way, the annualized sales run rate is too high.

For my part, it is clear that sales are going to be in the 50/50 area +-10% points. Good enough for me at this point. We will know more soon enough.

mL is a blockbuster.

ij