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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.18+2.4%12:52 PM EST

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To: bob smith who wrote (14083)2/2/1998 6:24:00 PM
From: Henry Niman  Read Replies (2) of 32384
 
Bob, CNBC's The Edge just had Brian Finnerty and Vincent Farrel on. Not surprisingly, the discussion turned to today's big move by the pharmas. Both analysts were in agreement on the superiority of Biotech over big pharmas. They noted that today's merger mania was being fueled for a large R&D requirement, but they compared big pharma valuations to Biotechs. MRK's market cap is $140 Billion and they spend $1.5 Billion on R&D. In contrast, all Biotechs combined had a market cap of $85 Billion with $5 Billion spent on R&D.

Thus they both agreed that Biotechs were a much better value for the long term investor.
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