Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Icebrg who wrote (8713)	6/20/2003 6:47:14 PM
From: Icebrg	Read Replies (1) \| Respond to of 52153

Perhaps I should reclassify Tanox. U.S. FDA approves Genentech, Novartis asthma drug Friday June 20, 6:37 pm ET WASHINGTON, June 20 (Reuters) - The U.S. Food and Drug Administration (News - Websites) on Friday approved the sale of Xolair, the first biotechnology treatment for asthma. The antibody-based drug, given by injection once or twice a month, was developed by Genentech Inc. (NYSE:DNA - News), the world's second-largest biotechnology company, Novartis AG (NOVZn.VX), Europe's third biggest drugmaker, and small Houston-based biotech company Tanox Inc. (NasdaqNM:TNOX - News).

To: Icebrg who wrote (8713)	6/20/2003 7:05:35 PM
From: Biomaven	Respond to of 52153

Erik, Very interesting idea - let me think about what would be a sensible classification. At a glance, DNA is missing from either your superrich or rich groups. One objection is that it ignores stocks like NBIX that have no immediate revenues but good prospects a few years down the road. Peter

To: Icebrg who wrote (8713)	6/22/2003 6:43:39 AM
From: Icebrg	Read Replies (2) \| Respond to of 52153

Profitability among companies included in the NBI-index This is a WORKING COPY. It is not complete in ANY way. [The presentation looks relatively OK, though - but the data is still doubtful :-)]. I am posting it only in order to get more input on how to do this aggregation in the best possible way. What companies to include. Etc. The final results will NOT look like this. - There are companies missing, completely or for some quarters. - Some of Yahoo's figures look dubious. - I may have made mistakes in the spreadsheet (I often do that). Etc. etc. But I believe we might at least start to see some contours. Which don't really tell us too much. It appears I have to go back and pick up the figures year by year. Yahoo provides for three years. Then it is possible to continue with 12m rolling figures. Please, note that I have not considered non-recurring costs. They have been taken out from the calculations. It took some time for me to figure out what Yahoo was doing with these figures, so I may have to do some housecleaning among the first entries I made into the spreadsheet. Only companies included in the NBI-index are represented. That means that companies like DNA and SEPR are not there. There may be other representative companies missing. Please, let me have your suggestions and I will include them. It would be nice to have a hundred in total. I have made my spreadsheet in a relatively modular way. So, it shouldn't be too difficult to reclassify companies when necessary. Classification of companies has been made according to my earlier post. I noticed however that I had put IDPH among the Strugglers. That was clearly not correct. IDPH is now included among the BIG companies. All opinions are welcome. Erik Period......................... Q2_02 Q3_02 Q4_02 Q1_03 AMGEN Revenue...................... 1 249 100 1 499 300 1 766 100 1 761 200 Cost of Revenue.......... -131 900 -226 400 -273 800 -283 300 Gross Profit................ 1 117 200 1 272 900 1 492 300 1 477 900 Operating Expenses R&D........................... -233 600 -312 600 -367 000 -351 300 S,G and A.................... -320 500 -359 400 -536 400 -390 100 Non Recurring.............. Others.......................... 0 -70 600 -84 600 -83 900 Op. Income................. 563 100 530 300 651 400 662 200 Oth. income/exp........... 45 500 23 700 31 300 32 800 Interest exp.................. -12 700 -11 600 -12 900 -6 900 Taxes.......................... -185 200 -155 600 -213 400 -194 800 Minority interest........... 0 0 0 0 Net Income cont. op... 410 700 386 800 456 400 493 300 Period......................... Q2_02 Q3_02 Q4_02 Q1_03 BIG Revenue...................... 1 627 219 1 783 634 2 181 463 1 926 026 Cost of Revenue.......... -359 769 -402 478 -485 142 -419 964 Gross Profit................ 1 267 450 1 381 156 1 696 321 1 506 062 Operating Expenses R&D............................ -545 936 -568 125 -596 563 -481 522 S,G and A.................... -581 291 -568 890 -677 272 -597 654 Non Recurring.............. Others......................... -49 961 -53 102 -61 641 -56 164 Op. Income................. 90 262 191 039 360 845 370 722 Oth. income/exp........... 69 062 98 176 14 988 51 490 Interest exp.................. -46 079 -97 288 -6 167 -41 787 Taxes.......................... -55 534 -66 684 -6 155 -157 611 Minority interest........... -765 532 -2 112 -124 Net Income cont. op... 56 946 125 775 361 399 222 690 Period......................... Q2_02 Q3_02 Q4_02 Q1_03 SMALL Revenue...................... 311 868 317 994 344 906 300 133 Cost of Revenue.......... -75 112 -72 295 -133 874 -95 752 Gross Profit................ 236 756 245 699 211 032 204 381 Operating Expenses R&D............................ -230 266 -233 350 -174 065 -189 338 S,G and A.................... -137 474 -170 175 -189 168 -151 052 Non Recurring.............. Others......................... -9 983 -5 221 -5 405 -6 072 Op. Income................. -140 967 -163 047 -157 606 -142 081 Oth. income/exp........... 37 783 23 139 24 530 14 737 Interest exp.................. -17 232 -14 392 -26 848 -13 626 Taxes.......................... 1 732 -7 371 -7 115 -3 275 Minority interest........... Net Income cont. op... -118 684 -161 671 -167 039 -144 112 Period......................... Q2_02 Q3_02 Q4_02 Q1_03 STRUGGLERS Revenue...................... 281 885 198 837 201 876 198 077 Cost of Revenue.......... -21 774 -23 214 -21 193 -15 270 Gross Profit................ 260 111 175 623 180 683 182 807 Operating Expenses R&D............................ -779 836 -672 241 -721 998 -658 622 S,G and A.................... -194 510 -161 406 -191 722 -176 695 Non Recurring.............. Others......................... -5 084 -4 997 -4 072 -5 385 Op. Income................. -719 319 -663 021 -737 109 -657 895 Oth. income/exp........... 69 442 4 549 98 721 36 843 Interest exp.................. -45 778 -35 958 -46 763 -34 254 Taxes.......................... -6 260 5 735 12 354 7 353 Minority interest........... -5 851 1 101 1 114 1 349 Net Income cont. op... -707 766 -687 594 -671 683 -646 604 Period......................... Q2_02 Q3_02 Q4_02 Q1_03 TOTAL Revenue...................... 3 470 072 3 799 765 4 494 345 4 185 436 Cost of Revenue.......... -588 555 -724 387 -914 009 -814 286 Gross Profit................ 2 881 517 3 075 378 3 580 336 3 371 150 Operating Expenses R&D............................ -1 789 638 -1 786 316 -1 859 626 -1 680 782 S,G and A.................... -1 233 775 -1 259 871 -1 594 562 -1 315 501 Non Recurring.............. Others.......................... -65 028 -133 920 -155 718 -151 521 Op. Income................. -206 924 -104 729 117 530 232 946 Oth. income/exp........... 221 787 149 564 169 539 135 870 Interest exp.................. -121 789 -159 238 -92 678 -96 567 Taxes......................... -245 262 -223 920 -214 316 -348 333 Minority interest........... -6 616 1 633 -998 1 358 Net Income cont. op... -358 804 -336 690 -20 923 -74 726