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

To: Biomaven who wrote (8822)	7/14/2003 8:02:07 PM
From: Biomaven	Respond to of 52153

A very impressive earnings projection from GILD today. The extent can be seen by the change in BofA's Q2 estimate - from $0.20 to $0.48. But note that it sounds like there was some wholesaler stocking this quarter ahead of a possible price increase, so the "real" increase is not quite as substantial. I still believe people are underestimating Hepsera for HBV, and it looks to me like GILD with the inevitable Viread/Emtriva combo will eventually eat Combivir's lunch. (And it's a pretty hefty lunch, with worldwide sales for GSK in '02 of $900m). This further strengthens the case for the first tier earning's growth I have been talking about. Peter