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Biotech / Medical : Gilead Science (GILD) Followers

GILD 121.10

+0.4%

Jan 9 3:59 PM EST

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To: Doug Meetmer who wrote (281)	5/1/1997 10:28:00 AM
From: Rick Strange	of 961

Gilead's Vistide gets EU marketing authorization. This authorization allows the product to be marketed in all 15 countries of the European Union. Pharmacia & Upjohn has exclusive marketing rights outside the U.S. Approval triggers a $10 million milestone payment from P&U and commits P&U to purchase $40 million of Gilead Series B Preferred Stock. This stock is convertable into one share of GILD common at $35.28 or a 45% premium over the average closing price for the 30 days prior to the announcement of EU authorization. These two events will raise GILD's cash position to $340 million. Rick

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