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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Cytokine1 who wrote (9065)12/22/2001 12:25:12 AM
From: Vector1  Read Replies (3) of 9719
 
CYTO,
two major announcements after the market close will have a major positive effect on 3 of our portfolio companies. First Schering-Plough announced that it has finally recieved marketing approval for Clarinex. Although SGP is still in discusions with the FDA and may have to pay as much as $500m it is free to launch Clarinex in January about a year before the Claritin patent expiration. You can bet that SGP will aggressively switch out Claritin scripts. I think SEPR which gets a royalty on Clarinex sales will get a very very positive reaction on Monday with a big gap opening. SEPR has never disclosed the exact royalty but my guess is very low double digits. Claritin had world wide sales well over 3billion. There is a major cash cow for SEPR. This makes the convert they did even more impressive. If Soltara gets approved on schedule we could have a triple digit stock next year and the converts could be forced to convert. The SEPR folks are looking very smart and we are looking to make a bundle.

Also after the close although it clearly started to leak, AFFX and INCY announced an end to their wastful and expensive litigation. They are cross licencing technology and appear to be in discusions to do things together. How refreshing. A major victory for INCYs new management team. A terrific first step for the former DuPont guys. Both stocks should have an excellent week although you won't see the gap opening SEPR will have.

Happy Holidays and all the best

V1
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