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Biotech / Medical : Biotech Valuation

CRSP 52.20

-5.5%

Nov 12 3:59 PM EST

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To: Icebrg who wrote (8232)	5/1/2003 8:44:14 AM
From: rkrw	Read Replies (1) of 52153

Ice, Provigil was EU approved but unapproved and untested in the US when ceph inlicensed. Success with provigil gave ceph the equity to take on actiq and gabitril. CELG is another good example. Many more too. No small wonder that half of biotech is seeking to inlicense. <<With an 80 % attrition rate during clinical development everyone will need a good portion of luck - regardless of development model.>> Couldn't agree more.

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