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Biotech / Medical : Munch-a-Biotech Today

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To: scaram(o)uche who wrote (1862)	5/4/2005 4:14:34 AM
From: nigel bates	Read Replies (1) of 3158

At the risk of seeming obsessive on this topic... It seems to me unconscionable that the board is trying to sell the company to GSK without disclosing the royalty rate on Cervarix (and/or the price of the MPL adjuvant). Whatever the royalty rate is, the future royalty stream and adjuvant supply contract are almost certainly Corixa's biggest asset. How can it be right that prospective buyer and the board both know the rates, while those who are being asked to sell do not ? How is this consistent with the board's fiduciary duty to shareholders ? (edit: I note GSK has just announced Cervarix to be effective against another 3 strains of HPV).

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