Agreed. What struck me the most were the "in some instances" remark and Duncan's cheerleading. I still hope he is right in being so bullish but I wished he had asked tougher questions. For instance, we know that patent exclusivity rolls off in 2024 in EU and 2027 in US, but what about the rest of the world? I realize EU and US are the biggest markets but ROW, especially because of China, will soon be a larger slice of the pie.
Also, what did she mean by "in some instances"? What percentage of products do they expect to get patent extensions for as a result of co-formulations? And most importantly, when are we going to find out if Darzalex FasPro is one of those "instances"?
Selling seems to dry out, for now, when stock gets around $38 but then picks up again when it hits $41-42. Sector weakness is of course not helping.
Let's hope we get to see some progress in the phase 3 trials. I just don't see how royalties can grow 40% in 2023 unless we get at least a new product approved at the beginning of 2023. I doubt Darzalex and Phesgo can do it by themselves. I am not even sure royalties can grow 40% in 2022.
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