Replies to post #223870 on Biotech Values

[DewDiligence]

Re: Value of Botox franchise

…Botox represents around 23%/24% of [AGN’s] sales…

But Botox comprises a much larger proportion of AGN’s profits because Botox has a much higher profit margin than AGN’s portfolio as a whole.

I'd have no better way to put a number on what the Botox franchise is worth, but I would think it wouldn't be in the $24B ballpark.

The $24B NPV figure, which I came up with two years ago, is now almost certainly too low. At that time, Botox had annualized sales of about $3B (#msg-127654469); it now has annualized sales of about $4B (#msg-146411243).