Conservative as it should be for a 12 month target.
Long term one needs to calculate the value of 15%+ royalties earned in a $3+B market without a viable competing drug for 10 years.
i.e. $450,000+ per annum.
Hell, be conservative and assume all the milestone payments only cover off all of the costs of commercialization and ongoing ops.
$4.5B plus in royalties.
Big numbers.
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