Replies to post #127955 on Biotech Values

[HattieTheWitch]

You have to do the arithmetic on a present-value basis with an appropriate discount rate. When you do that, reduced income starting in 2014 is not as onerous as it might seem on first glance.

Ah, maybe I see what you mean - it's a royalty on SALES, not on profits, so there would be a huge difference.

Thanks for your reply.