Replies to post #113508 on Biotech Values

[dewophile]

Didn't they earn 215M less because Sandoz was selling generic for 2/3 of Q3?

yes that is what i am saying - SNY would only be affected by a diminution in end user sales, which was 215M (ballpark) lower year over year. it can't be that end user sales for NVS in Q4 was 170M even if you discount the end user sales by say 15% for generic pricing, since the 215 was not even a full quarter's worth of sales, and we know the lovenox market has grown in volume since 2009
so it must follow that there was a draw down from inventory from end of Q3 to end of Q4 to account for the differential between end user sales and actual sales

[exwannabe]

Something just doesn't compute for Q4. Perhaps NVS made some error

I seriously doubt NVS had a broken calculator.

Does anybody know for certain if NVS's top line number includes MNTA's "profit share"? I could see an accounting POV that the revenue is being split before hitting the books.