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Biotech / Medical : Biotech Valuation
CRSP 49.29-2.8%3:59 PM EST
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To: IRWIN JAMES FRANKEL who wrote (5489)1/20/2002 10:05:49 AM
From: Madharry  Read Replies (1) of 52153
 
Sorry but I strongly disagree with you. There is just no way that anyone at BMY would have approved the purchase of IMCL had they been privy to all the discussions with the FDA. Any rational person following this sequence would know that RTF was inevitable. The logical conclusion is that BMY was misled by IMCL management. What are their options? I would think they would have to sue the company and its board and hope to collect fraud insurance.
On top of that they have to get rid of current management. My guestimate is that there is at least a 90% probability that BMY sues IMCL and Waksals.
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