Replies to post #30807 on Biotech Values

[DewDiligence]

>This is an awesome deal for vertex.<

Not sure I agree with you. Since VX-950 is by far the better drug, I would have expected VTRX to command a much better deal on 950 than IDIX got from NVS on NM283. Yet the economic terms are roughly comparable. VRTX retains all North American rights, but has to pay 50% of development costs and gets only a royalty in Europe; IDIX, on the other hand, has 100% of development costs reimbursed by NVS and has a 50/50 profit split in both the U.S. and western Europe. The combined up-front and milestone payments in the two deals are almost exactly the same.

Should be a good CC.