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Biotech / Medical : Munch-a-Biotech Today

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To: tuck who wrote (1380)	9/20/2002 10:51:53 AM
From: nigel bates	Read Replies (1) of 3158

Consolidation continues to be led by the penny biotechs Probably since they are the ones who have no other alternative. Would be refreshing to see some companies make the move from a position of (relative) strength. Now INCY munching RIGL, for a wild example, might be a worthy next step Might have been a worthy first step, before they went out with open chequebook to set up drug development in-house. INCY's new management give every appearance of being idiots on an ego trip. They seem to have no sense of their cash position being a strategic resource, rather something that allows them to increase the burn. I have a nasty feeling that their convertible will - eventually - turn round and bite them where it hurts. nig

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