MtBaker schreef op 29 maart 2016 08:15:
Reminder
UIT RAPPORT MORGAN STANLEY
Price Target $89 per 7/1/2016
Filgotinib and CF assets drive our forecast. We assume:
1) ~$875M in royalties on sales of filgotinib in RA and ~$200M in
royalties on sales of filgotinib in Crohn's by 2030E ;
2) Total filgotinib development/commercial milestones of $1.35B;
3) CF program royalties of ~$600M by 2030E; 4) CF program
development/commercial milestones of $350M.
Price Target $132 voor periode tot jan. 2017
Filgotinib and CF assets are still the major driver, but we
assume greater share in RA.
We assume:
1) ~$1.3B in royalties on sales of filgotinib in RA and ~$300M in royalties on sales of filgotinib in Crohn's by 2030E;
2) Total filgotinib milestone payments of $1.35B;
3) CF program royalties of ~$900M by 2030E;
4) CF program development/commercial milestones of $350M.