IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Don Cheng who wrote (1044)	6/24/1997 5:11:00 PM
From: I. Luttichuys	of 1762

I have a decent position in MRK via a DRIP. I tend to think along the lines of those who believe that biotech has been in the dumpster for some time and that we are just starting to come back. Also, I think we will see the earliest action in the flagship companies such as those you mention. I think after these have come to more reasonable valuations (in this market) there could be a rotation into the smaller biotechs. I think, for example, MRK (which is slated to make 4.41/share next year) should be selling for closer to 120/share. Recently, I was buying it in the eighties. Anyway, the smaller biotechs are what I mean when I say I may buy "a basket"... I mean I may pick up BCHXF, BTGC, IMNX etc... However, I don't think it's too late for either. BENNETT

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