A	B	C	D	E	F	G	H	I	J	K	L	M	N	O
1	Main
2		Ruling	PharmAthene is entitled to a lump sum damage award in a still unspecified amount, with interest and fees, based on U. S. Government purchases of SIGA's smallpox drug supposedly anticipated in 2006.
3			The total award is likely to be substantial, but it will not be established until after the Court considers calculations to be provided by a designated expert.
4
5		Govt contracts through 2005	NIH grants (Aug 2004)					11.1
6		(smallpox)	NIH (prior to 2003)					1.1
7			US Army Medical Research (Sep 2005)					3.2
8			US Army Medical Research Dec 2002)					1.6
9								17
10
11			The Department of Homeland Security appropriation bill signed by President Bush on October 1, 2003 created a discretionary reserve of $5.6B to fund Project BioShield
12			$3.4B over first 5 years, $2.2B over next 5 years
13			The Congressional Budget Office reported that the DHS projects acquisition of 60M doses of new Smallpox vaccines over 3 years, beginning 2005
14			CBO reports that the DHS will spend an additional $1B to replace expired stocks in 2007-2013
15			Federal govt committed to $9B research spend in 2006
16
17		Based on govt contract:
18		BARDA contract (5/13/11)	435
19		% to PharmAthene	0.5
20		Interest rate (inc fees)	0.03
21		Lump sum payment	275.52249270180647
22
23		Based on expert model:
24			2007	2008	2009	2010	2011	2012	2013	2014	2015
25		Units				2.980649	2.980649	2.980649	2.980649	2.980649
26		Price				100	103	106.09	109.2727	112.550881
27		Revenues				298.0649	307.006847	316.21705241	325.7035639823	335.474670901769			Success prob.		0.84
28		COGS				44.709735	46.051027049999995	47.4325578615	48.855534597345	50.32120063526535			COGS		0.15
29		Gross Profit				253.35516500000003	260.95581995	268.7844945485	276.848029384955	285.15347026650363			Op Exp		0.2
30		Op Exp				59.61298000000001	61.4013694	63.243410482	65.14071279646001	67.0949341803538			Tax rate		0.35
31		Operating income				193.742185	199.55445054999998	205.5410840665	211.707316588495	218.05853608614984			Discount		0.2331
32		Taxes				67.80976475	69.84405769249999	71.93937942327499	74.09756080597325	76.32048763015244			NPV		367.92261948356696
33		Net income				125.93242025	129.71039285749998	133.601704643225	137.60975578252175	141.7380484559974			Risk adj. NPV		309.0550003661962
34													Int rate		0.03
35													Award		391.5016279671361