< I fear the street will never give those earnings a substantial PE ratio, because of concerns (justified or not) about the longevity of Viracept. >
I disagree, except for crossen (Nations Banc-montgomery), the street has stood by the company about the,longevity question and has given them a substantial PE.By the way, Nations Banc still has a significant position on AGPH.
Before Viracept was approved, there were 2 concerns; first- this little company could not penetrate a mkt dominated by the big pharmaceutical companies like MRK, ABT, especially when they were going to market and sale the product themselves. The second "concern" was the longevity.
The first lie has been settled, the longevity lie is clear in my mind,t it is settled. There will be at most 5-6 PIs on the mkt over the next 5-7 yrs, with 3 now, 4 if you can count saq, and VX-478 hopefully in the next 18 months. P.S. VX-478 results were very disappointing IMHO. 1-2 more PIs (maybe in this time) that will take mkt share from first generatin PIs.
The liars would have you believe there are 40 new PIs on the mkt in the next 12 months, sorry the facts don't support. |
