Nice math work.
The impact of the $ESRX decision on $GILD is more clear.
Assume further that half* of the 77,500 GT1's get treated, suggests revenue of about $3.2B. That is the plus for $ABBV and the lost revenue for $GILD.
Thus, on the loss of $3.2B in revenue, GILD lost about $23B in MC or about 7x Rev lost.
ij
* Not sure that is a good assumption.
PS - I have been out of GILD for some time, but bought the dip today, sold some calls and some puts. I may be early but it again looks interesting to me.
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