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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (1207)	2/26/2004 11:42:20 PM
From: keokalani'nui	Respond to of 1834

The more interesting side is NBIX's acquiring the wye indi royalty of 2.5% for 10 years for just $95M. Doesn't that mean that the whole program (valued as 100% profit over 10 years) is worth $3.8b and including the next 10 would be x1.4 (npv machine at the office!)--giving a total program value (assuming no expenses) of $5.2b, with $2.6b to nbix? With a $1.8b undiluted market cap, if the bankers are right, there may not be much appreciation left, especially after expenses. Notwithstanding WYE's decision, deep down I think NBIX is still a solid long term hold solely for indi alone.