AI
Tuesday, July 26, 2011 3:40:19 PM
LGND:
That is one thing people may not be fully appreciating with Ligand. With the $28 million quarter if growth continues I think 2012 Promacta sales could hit $250 million (that isn't even presuming off label use in Hep. C). That would put royalty revenue from Promacta alone at $15 million. Putting Income from all other sources at $15-20 million and around $20-$25 million in expenses and EPS is in the .50 range (they have about 500M in NOL's). I am sure expenses will be up a bit from that BOH calculation but I would expect more from the Cydex side too (though obviously it doesn't drop to the bottom line like the royalties).
EDIT:
Just to complete the thought for those who can't read my mind
... In 2013 Promacta at $400 million royalty revenue from it jump to roughly $29 million which ALONE adds .70 EPS.
That is one thing people may not be fully appreciating with Ligand. With the $28 million quarter if growth continues I think 2012 Promacta sales could hit $250 million (that isn't even presuming off label use in Hep. C). That would put royalty revenue from Promacta alone at $15 million. Putting Income from all other sources at $15-20 million and around $20-$25 million in expenses and EPS is in the .50 range (they have about 500M in NOL's). I am sure expenses will be up a bit from that BOH calculation but I would expect more from the Cydex side too (though obviously it doesn't drop to the bottom line like the royalties).
EDIT:
Just to complete the thought for those who can't read my mind
... In 2013 Promacta at $400 million royalty revenue from it jump to roughly $29 million which ALONE adds .70 EPS.
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