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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.70

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Dec 8 4:00 PM EST

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To: Haim R. Branisteanu who wrote (43832)	3/22/2000 12:44:00 PM
From: Casaubon	of 99985

Big Pharma head honchos get the same options benefits as management in cutting edge biotech companies. Big Pharma cannot payoff big like promising btk companies. Essnetially, big pharma has become the sales force for innovations coming from BTK. Don't get me wrong, big pharma will generate nice returns but, the real money will come from innovative smaller companies. Big pharma buys most of their pipeline from smaller companies. As these smaller companies start to reap enough profits from collaborations, they will be able to take more into the clinic on their owm. Big Pharma won't be able to keep pace!

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