I agree that a lot of the revenues are baked in, but at a heavy discount. The price of the company clearly takes into consideration that we will capture revenue beyond our label however that is discounted for probability. After all if $1B+ revenue was certain the company would likely be valued at an amount greater than its current $3B. I get what you are saying though.
You must also believe that Alexion with one drug $1 Billion in revenue and 200 Million Net way overvalued at 20 billion dollar market cap...With that set up Alexion added 3.5% today....