Hi, gg -
Well, not the ringing endorsement that we have from some other Pennsaid users, but "...I would certainly recommend Pennsaid for joint Pain relief" is good enough.
I wonder whether he used it sparingly, and how much pain he is normally accustomed to. Some of the people I know who have OA find aspirin equivalent to putting a band-aid on an amputation. In any case, he won't be getting GI bleeding from Pennsaid.
Still, it's good to see another positive report. Any way we slice-and-dice the figures, if Pennsaid captures 10% of the OA market (estimated at 20 million plus and growing) then that's 2 million, times however many times a year they re-order: let's say three times a year - that's 6 million bottles in a year.
Times $30 CDN = $180 million, at 25% profit, $45 million per year. Assuming it takes a couple of years, and dilution grows to 60 million, that shows US earnings of $0.75 CDN, give it a P/E of 20, and you have a share price of $15 CDN. That excludes other earnings, of course.
FDA approval should give us an upfront of around another $1/share, at least.
WF10 - who knows? Pennsaid alone should put DMX solidly in the black - though it won't be immediate.
None of this is meant to detract from Wolf's more detailed, and more reliable estimates.
Regards,
Jim |
