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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene
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To: DewDiligence_on_SI who wrote (281)10/11/2005 1:36:19 AM
From: tuck  Read Replies (2) of 447
 
>>Then why is he still whining about Goddard being Goddard?)<<

I get in trouble with Rick if I attempt to portray his thinking, so I'll let him do it if he's going to.

Anyhow, here's the S-4/A:

sec.gov

Eyetech special meeting November 10th. We can always hope EYET shareholders are greedy and vote against the merger. Low odds, for sure. Even more unlikely, we can hope for a better competing bid. Then OSI would get 31 million as a termination fee. Definitely the best case scenario; odds: 1 in 100.

After Hours action in OSIP today was interesting. It lost some more ground at first, then came back to nearly the closing price late in the session, apparently when DNA explained the Tarceva shortfall. What scrip data I've seen looks choppy but trending slightly up. That seems right to you? Wholesaler inventories are apparently even choppier, but if DNA's explanation is correct, we should see better sales.

So I'm guessing we have a near term bottom. The deal will in all likelyhood close, and I think that's been priced in, as has earnings (slight possible upside if European wholesalers were not overstocked?). OSIP should be pretty safe until the ANCHOR data comes out. Pardon me if I'm being obvious here.

Cheers, Tuck
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