Biotechnology Value Fund, L.P. Message Board

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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: biowa who wrote (2312)	2/28/2001 9:41:42 PM
From: Miljenko Zuanic	Read Replies (2) of 4974

Biowa, Rick, <<You are right, that a lot of capital was raised last year. So that if the issue is survivability, the markets should be more responsible. Not sure that's all there is to it, though.>> Here I agree with Biowa. First, Agouron had strong move because at the time there was nothing else to bet on it. Today we have different picture. Many bios entered race. Competition will be severe, and cash is only guaranty that many have equal opportunity to show something and prove that they are for real. One or two drug (rare cases are large and new market, like in Agouron case) in pipeline will not do it. I mention early that sector needs consolidation, and yet I do not see single sign that we are at that point. <<That said, IMO if you buy a reasonable basket of small-to-mid cap stocks in this sector (that you've done the due dilly on) for the long-term (1 1/2-3 years) you'll earn in excess of 20% annualized over that period.>> I do not want to waste my time for 20%. My appetite is much bigger. Let say 100-200% annualized, or... <g> Miljenko

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