Assume peak sales of $6 billion [$3 billion to PCYC] in 2024 for Imbruvica and $2 billion for its other two novel products. Applying 40% probability rates for successful commercial development (of the two investigational drugs), and applying a 13.0% discount rate (cost of capital, given key product already approved), the risk-adjusted, net present value of Pharmacyclics in today’s dollars is about $1.0 billion - See more at: http://ycharts.com/analysis/story/pharmacyclics_science_and_finance_behind_10b_market_cap#sthash.NPuDdmxB.dpuf
