Not exact matches
These risks and uncertainties include: Gilead's ability to
achieve its anticipated full year 2018 financial results; Gilead's ability to sustain growth in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures in European countries that may increase the amount of
discount required on Gilead's products; an increase in
discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift in payer mix to
more highly
discounted payer segments and geographic regions and decreases in treatment duration; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations in Gilead's earnings; market share and price erosion caused by the introduction of generic versions of Viread and Truvada, an uncertain global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect of lowering prices or reducing the number of insured patients; the possibility of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates in the timelines currently anticipated; Gilead's ability to receive regulatory approvals in a timely manner or at all, for new and current products, including Biktarvy; Gilead's ability to successfully commercialize its products, including Biktarvy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates, including GS - 9620 and Yescarta in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to changes in its stock price, corporate or other market conditions; fluctuations in the foreign exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (the SEC).
The benefit utilization, investment earnings, and liability
discount rates can always be tweaked a little
more to
achieve costs within budget in the short run, at a cost of greater contributions in the long run, particularly if the markets are foul.
Value stocks» outperformance is even
more pronounced for small and mid cap companies, because they tend to trade at even bigger
discounts due to illiquidity and lack of analyst coverage, as well as being able to
achieve higher growth rates than larger companies.
Considering the history here & the huge share price
discount, it's certainly NOT wishful thinking for shareholders to expect a decent IR effort from management, and (
more importantly) an enhancement & realisation of shareholder value... and whatever it takes to
achieve that, up to and including a sale of the company.
It is becoming
more and
more difficult to
achieve value that is significantly
more than 0.6 cents / point — reflecting a 20 %
discount compared to paying cash!
Continuing its history of
discounting state policies, the fuel security analysis scenario that the ISO claims depicts the likely future includes only 6,600 megawatts of renewable energy capacity in 2024/2025 — far below the
more than 8,000 megawatts needed to
achieve state renewable portfolio standards.
The
more claim - free years you
achieve, the greater the
discount that applies to your premium.