"Our valuation does not include a consideration of the R&D pipeline, given that it is in an early stage of development. Our base case does, however, assume an AUD 50 million milestone payment in 2018 from Eli Lilly for reaching undisclosed global sales hurdles, which distorts valuation metrics"
Hmmm - so what has previous years R&D been spent on given that current "pipeline" is in early stage development AND why factor in the $US50m payment into the valuation - to be conservative and given recent gross sales (after rebates) amounts that would be a big call and what would the valuation be assuming that the $US50m is not received - hmmm $0.75????.
ACR Price at posting:
76.0¢ Sentiment: None Disclosure: Held
