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Protalix BioTherapeutics, Inc. (PLX) Message Board

  • woodbarn woodbarn Nov 8, 2012 2:16 PM Flag

    Protalix collaboration net income $1.67 million is decent. Elelyso profitable after two quarters in U.S. market.

    Protalix collaboration net income $1.67 million is decent. Elelyso profitable after two quarters in U.S. market. Since Protalix's share is 40%, Pfizer got the other 60%,or $2.5 million. Combined total net was around $4.175 million.

    Pfizer does not release Elelyso revenue figures, but it can be estimated from royalties that Protalix pays to OCS. I think OCS royalties is 3% of Pfizer reported Elelyso revenue. Since $314,000 was paid to OCS, revenue was probably around $10.5 million.

    Pfizer might be supplying Elelyso to around 280 patients. Assuming Elelyso cost around $37,500 a quarter, then 280 patients would generate around $10.5 million.

    Net income of $4.175 on revenue of $10.5 million would give Elelyso a net profit margin of around 39%.

    Anyway, Protalix reported a loss for quarter and will probably take a while for company to generate a profit. Protalix gets 100% profits in Israel which might help. Also, since drug is locally made in Isreal, maybe existing Cerezyme and VPRIV patients will switch. Brazil approval is expected soon.

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