Calculate the NPV of Medfield PLS.

Exhibit 4 MEDFIELD PHARMACEUTICALS Forecast Based on Existing Products (in millions of U.S. dollars, unless otherw Costs of Sales Research 23.0% 19.0% Direct Marketing General and Admin 27.0% 4.0% Taxes Discount Rate 32.0% 8.5% 2010 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Fleximat Sales Cost of Sales 2011 2% 214.77 49.40 2012 2% 219.07 50.39 2013 -50% 109.53 25.19 2014 -50% 54.77 12.60 2015 -50% 27.38 6.30 210.56 47.46 Lodamadal Sales Cost of Sales 39.67 10.55 2% 40.47 9.31 2% 41.28 9.49 2% 42.10 9.68 2% 42.94 9.88 2% 43.80 10.07 -50% 21.90 5.04 -50% 10.95 2.52 -50% 5.48 1.26 Orsamorph Sales Cost of Sales 78.97 18.46 2% 80.55 18.53 2% 82.16 18.90 2% 83.80 19.27 2% 85.48 19.66 2% 87.19 20.05 2% 88.93 20.45 2% 90.71 20.86 2% 92.52 21.28 2% 94.37 21.71 2% 96.26 22.14 2% 98.19 22.58 2% 100.15 23.03 2% 102.15 23.50 2% 104.20 23.97 -50% 52.10 11.98 -50% 26.05 5.99 -50% 13.02 3.00 Reximet Sales Cost of Sales 2% 80.00 18.40 2% 81.60 18.77 2% 83.23 19.14 2% 84.90 19.53 2% 86.59 19.92 2% 88.33 20.32 2% 90.09 20.72 2% 91.89 21.14 2% 93.73 21.56 2% 95.61 21.99 2% 97.52 22.43 2% 99.47 22.88 2% 101.46 23.34 2% 103.49 23.80 2% 105.56 24.28 2% 107.67 24.76 2% 109.82 25.26 2% 112.02 25.76 2% 114.26 26.28 2% 116.54 26.81 -50% 58.27 13.40 -50% -50% 29.14 14.57 6.70 3.35 Total Sales Cost of Sales Research Direct Marketing General and Administrative 329.20 76.47 62.46 91.22 13.94 85.11 27.15 57.96 335.79 77.23 63.80 90.66 13.43 90.66 29.01 61.65 422.50 97.18 80.28 114.08 16.90 114.08 36.50 77.57 317.04 72.92 60.24 85.60 12.68 85.60 27.39 58.21 266.42 61.28 50.62 71.93 10.66 71.93 23.02 48.91 243.27 55.95 46.22 65.68 9.73 65.68 21.02 44.66 197.43 45.41 37.51 53.31 7.90 53.31 17.06 36.25 189.99 43.70 36.10 51.30 7.60 51.30 16.41 34.88 188.09 43.26 35.74 50.78 7.52 50.78 16.25 34.53 186.27 42.84 35.39 50.29 7.45 50.29 16.09 34.20 189.99 43.70 36.10 51.30 7.60 51.30 16.42 34.88 193.79 44.57 36.82 52.32 7.75 52.32 16.74 35.58 197.67 45.46 37.56 53.37 7.91 53.37 17.08 36.29 201.62 46.37 38.31 54.44 8.06 54.44 17.42 37.02 205.66 47.30 39.07 55.53 8.23 55.53 17.77 37.76 155.59 35.78 29.56 42.01 6.22 42.01 13.44 28.57 131.61 30.27 25.01 35.53 5.26 35.53 11.37 24.16 120.69 27.76 22.93 32.59 4.83 32.59 10.43 22.16 109.82 25.26 20.87 29.65 4.39 29.65 9.49 20.16 112.02 25.76 21.28 30.25 4.48 30.25 9.68 20.57 114.26 26.28 21.71 30.85 4.57 30.85 9.87 20.98 116.54 26.81 22.14 31.47 4.66 31.47 10.07 21.40 58.27 13.40 11.07 15.73 2.33 15.73 5.03 10.70 29.14 14.57 6.70 3.35 5.54 2.77 7.87 3.93 1.17 0.58 7.87 3.93 2.52 1.26 5.35 2.67 Taxes NOPAT 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Incremental Research 35 35 Incremental Special Marketing 25 25 25 25 25 Growth 2% -50% 2% 2% 2% 2% 2% 2% 2% 2% -50% -50% -50% 214.77 New Sales Marginal Sales (New Sales - Original Sales 0.00 49.40 New Cost of Sales Marginal Cost of Sales 0.00 New Direct Marketing 57.99 57.99 59.15 29.57 14.79 7.39 0 0 0 0 0 0 0 0 Old Direct Marketing Marginal Direct Marketing 0.00 New G&A 8.59 Old G&A 8.59 8.76 4.38 2.19 1.10 0 0 0 0 0 0 0 0 Marginal G&A 0.00 Marginal Cash Flow pre Tax Marginal NOPAT (60.00) (40.80) NPV Exhibit 4 MEDFIELD PHARMACEUTICALS Forecast Based on Existing Products (in millions of U.S. dollars, unless otherw Costs of Sales Research 23.0% 19.0% Direct Marketing General and Admin 27.0% 4.0% Taxes Discount Rate 32.0% 8.5% 2010 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Fleximat Sales Cost of Sales 2011 2% 214.77 49.40 2012 2% 219.07 50.39 2013 -50% 109.53 25.19 2014 -50% 54.77 12.60 2015 -50% 27.38 6.30 210.56 47.46 Lodamadal Sales Cost of Sales 39.67 10.55 2% 40.47 9.31 2% 41.28 9.49 2% 42.10 9.68 2% 42.94 9.88 2% 43.80 10.07 -50% 21.90 5.04 -50% 10.95 2.52 -50% 5.48 1.26 Orsamorph Sales Cost of Sales 78.97 18.46 2% 80.55 18.53 2% 82.16 18.90 2% 83.80 19.27 2% 85.48 19.66 2% 87.19 20.05 2% 88.93 20.45 2% 90.71 20.86 2% 92.52 21.28 2% 94.37 21.71 2% 96.26 22.14 2% 98.19 22.58 2% 100.15 23.03 2% 102.15 23.50 2% 104.20 23.97 -50% 52.10 11.98 -50% 26.05 5.99 -50% 13.02 3.00 Reximet Sales Cost of Sales 2% 80.00 18.40 2% 81.60 18.77 2% 83.23 19.14 2% 84.90 19.53 2% 86.59 19.92 2% 88.33 20.32 2% 90.09 20.72 2% 91.89 21.14 2% 93.73 21.56 2% 95.61 21.99 2% 97.52 22.43 2% 99.47 22.88 2% 101.46 23.34 2% 103.49 23.80 2% 105.56 24.28 2% 107.67 24.76 2% 109.82 25.26 2% 112.02 25.76 2% 114.26 26.28 2% 116.54 26.81 -50% 58.27 13.40 -50% -50% 29.14 14.57 6.70 3.35 Total Sales Cost of Sales Research Direct Marketing General and Administrative 329.20 76.47 62.46 91.22 13.94 85.11 27.15 57.96 335.79 77.23 63.80 90.66 13.43 90.66 29.01 61.65 422.50 97.18 80.28 114.08 16.90 114.08 36.50 77.57 317.04 72.92 60.24 85.60 12.68 85.60 27.39 58.21 266.42 61.28 50.62 71.93 10.66 71.93 23.02 48.91 243.27 55.95 46.22 65.68 9.73 65.68 21.02 44.66 197.43 45.41 37.51 53.31 7.90 53.31 17.06 36.25 189.99 43.70 36.10 51.30 7.60 51.30 16.41 34.88 188.09 43.26 35.74 50.78 7.52 50.78 16.25 34.53 186.27 42.84 35.39 50.29 7.45 50.29 16.09 34.20 189.99 43.70 36.10 51.30 7.60 51.30 16.42 34.88 193.79 44.57 36.82 52.32 7.75 52.32 16.74 35.58 197.67 45.46 37.56 53.37 7.91 53.37 17.08 36.29 201.62 46.37 38.31 54.44 8.06 54.44 17.42 37.02 205.66 47.30 39.07 55.53 8.23 55.53 17.77 37.76 155.59 35.78 29.56 42.01 6.22 42.01 13.44 28.57 131.61 30.27 25.01 35.53 5.26 35.53 11.37 24.16 120.69 27.76 22.93 32.59 4.83 32.59 10.43 22.16 109.82 25.26 20.87 29.65 4.39 29.65 9.49 20.16 112.02 25.76 21.28 30.25 4.48 30.25 9.68 20.57 114.26 26.28 21.71 30.85 4.57 30.85 9.87 20.98 116.54 26.81 22.14 31.47 4.66 31.47 10.07 21.40 58.27 13.40 11.07 15.73 2.33 15.73 5.03 10.70 29.14 14.57 6.70 3.35 5.54 2.77 7.87 3.93 1.17 0.58 7.87 3.93 2.52 1.26 5.35 2.67 Taxes NOPAT 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Incremental Research 35 35 Incremental Special Marketing 25 25 25 25 25 Growth 2% -50% 2% 2% 2% 2% 2% 2% 2% 2% -50% -50% -50% 214.77 New Sales Marginal Sales (New Sales - Original Sales 0.00 49.40 New Cost of Sales Marginal Cost of Sales 0.00 New Direct Marketing 57.99 57.99 59.15 29.57 14.79 7.39 0 0 0 0 0 0 0 0 Old Direct Marketing Marginal Direct Marketing 0.00 New G&A 8.59 Old G&A 8.59 8.76 4.38 2.19 1.10 0 0 0 0 0 0 0 0 Marginal G&A 0.00 Marginal Cash Flow pre Tax Marginal NOPAT (60.00) (40.80) NPV