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Biotech / Medical : Biotech Valuation

CRSP 52.51

+2.7%

Nov 14 3:59 PM EST

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To: tom pope who wrote (2511)	1/9/2001 9:34:30 AM
From: scaram(o)uche	Read Replies (3) of 52153

Tom: INCY touched on this issue yesterday. They claim that some partners facilitate their patent applications, as they are aware that INCY is interested in a reasonable, low single digit royalty. Protection at reasonable cost. Party line, in any event. Sounds like sound policy to me. My read on the "mood" at the meeting yesterday.... upbeat, despite the beating. Read on the INCY presentation..... building an infrastructure that will provide for hidden gems, decades to come. Stayed out late last night, don't have time to summarize presentations. I hit largely private companies. Only INCY and NBIX among publics. NBIX presentation was excellent, IMO. Levinson, Keynote, was brilliant.

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