But the infrastructure is set. It is almost ready to make a lot of money. the exercise here is, what does a $35 share today represent if JNJ offers? Someone thought it could be a par of one JNJ share, or $59. I said, they probably will not offer that much, even though, going solo - we could get to $80 in a year or so.
So, guessing we'd be at mid way with JNJ at $47, vs, on our own. The discussion is really not elementary. We hopefully get close to par. They are 162B market cap. We, a 5B cap. I say we should get par. If not, I wouldn't want to do it.
So, you say you'd be happy with a one fer with JNJ at 59. I wouldn't complain, but - only way this is happening is if JNJ has an inside line with FDA, and knows something is certain.
If the market (Telaprevir) is 100k patients now in the US, that could mean 35B revenue at 35k rregimen? Suddenly, the PE looks pretty attractive. Now, Vertex could command 100 per share, and a p/e of less than one.
I'd say one fer with JNJ is a steal, especially with inside info. Maybe I'm F'd up on the numbers - missing something?