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Biotech / Medical : Biotech Valuation

CRSP 55.11

-2.6%

Nov 7 9:30 AM EST

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To: Vector1 who wrote (5176)	12/19/2001 1:18:31 PM
From: Biomaven	Read Replies (1) of 52153

V1 & Michael, I agree that they may well still be negotiating here, but the lack of an immediate partner announcement does hurt. I sold my call options and part of my holding on the announcement, but still have kept a reasonable sized position. As V1 pointed out, they had a deadline with the approval announcement, and big pharma don't move quickly, particularly during the huge crush of office parties near year-end. <g> Niaspan sales have been very strong. According to a post on Yahoo: New: 20,526 Total: 51,922 which I believe are all-time highs. I'm not displeased that BMY didn't bite - there would always have been the worry that they weren't wholly behind the product. I suspect that they will ultimately end up with some sort of partnering arrangement here, perhaps along the same lines that SEPR/ABT did with Xopenex. Peter

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