OK, so there might be only 10,000 EPP sufferers worldwide, which may not be particularly lucrative even at 1,500 euro an implant 6 times a year.
Wild speculation on off label potential - even at this price:
There were 6.4 million white millionaires in the world in 2007. If just 1% of them stump up for an off label natural(ish) tan at 1500 euro a pop 6 times a year, you've increased your market 600%.
Say 70,000x1500x6/0.63x0.25 (last two numbers are AUD/EUR and RBSs assumed royalty) = $250m annual revenues (mostly pure profit) = a billion dollar plus company, with plenty of upside. With 300 million shares on issue, that's $3.30 a share.
To be taken with a massive grain of salt, but the potential is still there.
who can afford afamelanotide?, page-13
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