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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (3186)	3/24/2001 1:24:08 AM
From: tuck	Respond to of 52153

Vector1, >>Tuck, I think they got the patents to have a claim against those that did not subsribe to the database.<< Well, then, it seems to me they have plenty to do with INCY's valuation; same as a therapeutic company's patents give it a claim against those who would duplicate its drugs without paying, and that protection gives it market exclusivity until those patents expire. I grant you it is not as direct a contribution to INCY's value as the contracts themselves, but they help create the incentive for folks to contract with INCY in the first place, and discourages competition. In short, though the patents themselves don't give a number to plug into a valuation model, they give more confidence in the valuation at which one might arrive. In this respect, I'm saying nothing new to anyone here, and I'll shut up now. Cheers, Tuck