agree to most, but drop to 3 is a bit harsh. They have a lot of cash. Somewhere in the mix, with the strength of their partnerships, they would be vulnerable to take over, like HGSI. While the US shorts itself into oblivion, foreign corporations scoop out bargains and laugh at our system.
PS Kynamro's sales projections after approval are not all that exciting. I think its the long term, the ability to bring more products until one hits home, that creates the real value. Kynamro just underscores the antisense potential underneath. And how big pharma is already in there, dominating the scene.
First, ISIS should receive European approval by year end. Remember this application addresses larger markets as they are seeking approval to treat both HoFN and HeFN, the latter being a much larger market opportunity.
Following European approval we expect FDA approval on or before the PDUFA data of January 29th. ISIS is a buy under $12.