Biotech Values

[Rocky3]

You may be right as to the p/e, but I would say that it is because the uncertainty about the HCV business a few years out.

It looks like buy-side people agree with me as to current price weakness. See AF from Friday: http://www.thestreet.com/story/12529951/1/the-bull-case-for-gilead-amidst-recent-hep-c-sales-cliff-worries.html

Obviously this has significant effects on ABBV/ENTA and others in the HCV market over the longer term (and maybe not so long-term, if prior history is followed).

I have been impressed with Olysio launch too. Will be interesting to follow. Starting to look closer at JNJ. May be safer way to play several new launches out there.