Thank you posting this interesting projection by PJ. A revenue of $4.2 billion by 2013 may not include all of worldwide sales and possible CF drug sales. Even if we take this low estimate, earnings of $10 per share is possible(the number of shares may double to 300 million and the total expenditure may reach 1.2 billion). If you apply a PE of 35, the share price would be at least $350, and if you think that the PE should be 10 because of possibly poor pipeline, the share price would be at least $100. The reality may be somewhere between the two figures (350 and 100).