Replies to post #113591 on Biotech Values

[DewDiligence]

…leaving…just over 1 month's worth of inventory [at the end of 4Q10]

We’ve on the same wavelength regarding the inventory, as you can see from the second paragraph of #msg-59303927. Although your $960M figure for the annualized end-user run rate is a little higher than the $840-900M range in #msg-59286675, it’s in the same ballpark. Regards, Dew

[jbog]

dewophile,

The 'stuffing' or inventory that we are referring to is not held by NVS, it is held by every retail pharmacy or benefit manager located throughout the U.S.

If they have sales of around $1 Bil/year, I would think something in the 5x turnover would be appropriate.