Aug. 26 at 4:29 PM
$SPRO so the value here is the
$150 million for first commercial sales in US & EU, then
$225 million for sales milestones and royalties of 1% up to
$750M revs, 7-9% between
$750 and
$1B revs and 10-12% for over
$1B revs.
So the question is how fast and how big can sales become for tebi over the life of the patent.
GSK license agreement excludes Asia which I assume is quite a large market given the population.
$1.5 billion/yr in sales would be
$7.5 million on first
$750 million, about
$20 million for next
$250 million and
$50 million on next
$500 million, for
$80 million/yr in royalties excluding sales in Asia.
Let's call it 100 million for 15 years,
$1.5 billion, plus the
$375 million in milestones and whatever an Asia license agreement would be worth.
Call it
$2.5 billion over life of patent/agreement re royalties to SPRO..
discounted back to today would be maybe
$600-
$800 million?
Maybe
$10 BO offer here.
Just back of envelope math.
