please explain, page-5

All production for this second half of 2009 has already been sold. They are currently at around 60m/year or 5m/month, so each quarter should generate around $30m in royalties give or take. Then production in 2010 zooms up to triple that figure, at full sale this would be around 340m royalty per annum... demand unknown but during Q&A GSK stated the following:

1. Size of stockpiles are increasing
2. Number of countries stockpiling increasing
3. Portion of Relenza increasing

This is not just a "swine flu" thing... stockpiling starts years back but tamiflu got almost 90% market share leaving relenza in the stables. BUT, resistance is the primary reason countries are snapping up relenza like there is no tomorrow.

Biota has confirmed that on patents: "holds
patent coverage in the major markets until at least December 2014"

So, we could be in for strong sales for years to come.

Of course, all this will dramatically change the seasonal market for Relenza... surely their market share will also increase.

LANI will kick in just nicely too, couldn't have been better timed!

Biota are in a fantastic position to become a billion dollar company, just need some more good management with LANI and the rest of the pipeline. Keep in mind, it's taken 20 years or more of research and hard efforts to get to this point... this is the reward end.