Biotech Values

[DewDiligence]

Humira FoB addendum: If MNTA/BAX have the sole interchangeable Humira on the US market, MNTA’s royalty rate on US sales will be in the high teens. In jurisdictions where MNTA/BAX market a non-interchangeable Humira, MNTA’s royalty rate will be lower, although it could still be more than the contractual minimum. Thus, MNTA’s worldwide blended royalty rate on Humira will be at least the low-to-mid teens provided that interchangeability is obtained in the US market.

Applying the above to the numbers cited in #msg-70236725, one doesn’t need more than a basic calculator to see how much economic value such a product could bring to MNTA.