Epstein Secrets

1.5B. We are at 511.56. Reiterate Buy on valuation. We have increased our Sovaldi numbers in '14 by $700M to $5.7B We have taken up our numbers for US & EU Sovaldi over 2014 based on two trends 1) faster than expected launch in EU in a few countries (we previously assumed no sales in 1O in ELI) and 2) s

weighted calculations. This makes our weighted avg. tax rate for 2015 at -21%. Every 100bps tax rate impacts 2015 EPS by 10c (1.3% our of '14 EPS). Generic Sustiva will benefit COGS over next three years. We model COGS of 20% in '14 vs. 12% in '16 Sustiva (a component of Atripla not made by GILD) is going gener

1.5B.=We are at $11.58. Reiterate Buy on valuation. We have increased our Sovaldi numbers in '14 by $700M to $5.7B We have taken up our numbers for US & EU Sovaldi over 2014 based on two trends 1) faster than expected launch in EU in a few countries (we previously assumed no sales in 1Q in EU) and 2) s

eighted calculations. This makes our weighted avg. tax rate for 2015 at - 21%. Every 100bps tax rate impacts 2015 EPS by 10c (1.3% our of '14 EPS). Generic Sustiva will benefit COGS over next three years. We model COGS of 20% in '14 vs. 12% in '16 Sustiva (a component of Atripla not made by GILD) is going gener

11.SB.=We are at $11.58. Reiterate Buy on valuation. We have increased our Sovaldi numbers in '14 by $700M to $5.76 We have taken up our numbers for US & EU Sovaldi over 2014 based on two trends 1) faster than expected launch in EU in a few countries (we previously assumed no sales in 1Q in EU) and 2) s

weighted calculations. This makes our weighted avg. tax rate for 2015 at -21%. Every 100bps tax rate impacts 2015 EPS by 10c (1.3% our of '14 EPS). Generic Sustiva will benefit COGS over next three years. We model COGS of 20% in '14 vs. 12% in '16 Sustiva (a component of Atripla not made by GILD) is going gener