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Biotech / Medical : Incyte (INCY)
INCY 104.46+0.4%1:02 PM EST
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To: LLCF who wrote (1160)9/15/1999 6:25:00 AM
From: Doc Bones  Read Replies (3) of 3202
 
3 cheers for Incy:

If the regular cheerleader is absent, I'll try to whip up some team spirit.

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1) The court decision was more or less expected. It is not a terrible shock:

wired.com

7.06 - June 1999

"Another bright spot: litigation. Affymetrix has been aggressive in protecting its portfolio of 47 patents (with 190 more pending). Analysts are betting that Affymetrix will come out ahead in two active suits, against Incyte and Hyseq. Proof that in the new economy, intellectual property litigation is rapidly becoming a core competency."

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2) You may want to compare Incyte's collaborations to those of other biotechs:

biospace.com

Collaborations:

Abbott Laboratories:

Amgen:

Ariad Pharmaceuticals:

BASF Bioresearch Corporation:

Bayer Diagnostics:

Bristol-Myers Squibb:

Eli Lilly and Company:

Hoffmann-La Roche:

Glaxo Wellcome PLC:

Hoechst Marion Roussel Inc.:

Johnson & Johnson:

Monsanto:

Novartis:

Organon:

Pfizer:

Pharmacia & Upjohn:

Rhone-Poulenc S.A.:

Schering AG:

SmithKline Beecham:

Zeneca:

Some of these partners are major investors in Incyte, which is why 70% of the stock is held by institutions. (See SI Profile.) Insiders hold about another 18%, leaving only 12% that is available for trading. The Pharmas are not going to sell their shares - their investment is part of the parnership.

This is why Incyte stock is subject to large fluctuations (random or otherwise)IMO - the real float is very small.

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3) As a software person, let me point out the great advantage of setting the standard. It's very hard to unseat a software competitor which has established itself in industry. I believe Bill Gates will back me up on this.

Apple, with a fine windowing operating system on the Mac, was unable to make significant headway against DOS for four years. We sat there entering our command lines at the C:\> prompt because we hate to change away from the standard.

This is more true with the human genome data, which is showing more complexities as more is mapped: multiple proteins per gene... If you ask a researcher who has been manipulating and storing this data for years to change to a completely new computer system, you will not get a pleasant response.

Incyte is a heavyweight; it will not be blown away by one court ruling.

Doc
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