A diary of the thought process behind my investment decisions
Agreed--the slamming of Gilead has reached absurd, idiotic levels. With a market cap of $28.7 billion, at the current price they can buy back every last share in the next six years, before the first of the patent expirations. AND with the successful phase III trial of the Tibotec compound, they are likely to soon have approval for the first of the REPLACEMENTS of Atripla--meaning the AIDS franchise will continue past 2021. The analyst consensus calls for EBITDA of $4.5 billion this year, $5 billion in 2011, and $5.7 billion in 2012. I am buying.
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