>> I did not say this. <<
Didn't mean to imply that you did. Read the original post to which biowa replied. I was commenting in the context of the discussion as a whole, the discussion which you entered.
Viracept sales exceeded my expectations. For the quarter previous to the sale, Agouron's share of sales annualized at $580 million (projecting the quarter ending 3/31/99 forward). Nope, the profit wasn't that great, but it damn well was going forward, merging the Warner Lambert and Agouron infrastructures.
I agree with you regarding sector consolidation. But Agouron proved that success could be derived from building cash flow.
Fact...... in lean times, in the midst of sector depression, a major clinical success led to a responsive stock.
A major clinical success will ALWAYS lead to a responsive stock. If we have twenty in the next three years, we'll have twenty investment success stories.
MEDI? Sheeeesh, great example to prove my point. Dim-witted and slow, they're still up there. And here's another example.........
quote.yahoo.com
Fact is that even Amgen blew it. Yes, we need vision sector-wide like that at MLNM. However, one big clinical success, and "the stock" will do just fine. Always has been the case, always will be the case. |
