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Biotech / Medical : Biotech Short Candidates

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To: tuck who wrote (508)	5/14/2003 1:51:25 PM
From: Icebrg	of 897

>> Anybody fathom why CELG is approaching highs on the day after Velcade approval? Velcade is a direct competitor, and I don't see the market expanding. Tempted, things look mighty frothy. Could CELG have a strong showing at ASCO?>> Some suggestions (i.e uneducated guesses). 1. Shareholders are encouraged by the relative ease with which Velcade advanced through FDA's catacombs. Celgene has a second generation Thalomide-version Revimid under development. And people might feel that if Velcade could be approved so "easily", Revimid will too. 2. There are no cures for multiple myeloma so there are no competitors either. Sooner or later these poor patients will come to the point where they will have to use Thalomid/Revimid. Erik

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