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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: Cytokine1 who wrote (4109)	2/18/1998 12:02:00 AM
From: Rocketman	Read Replies (2) of 9719

Incyte and Pfizer Complete Expanded Genomic Database Agreement Tuesday February 17, 11:27 am Eastern Time biz.yahoo.com News I can live with. Didn't seem to move the stock. Even though this had an AM time on it, I didn't catch it until late in the day. I have a feeling it may have not gotten out too widely early in the day. May be some investor disappointment that Pfizer didn't take the "Full Monty" and subscribe to every dbase INCY has. They only "expanded the scope of the original agreement to include access to the LifeSeq FL(R) database of full-length genes, the LifeSeq GeneAlbum(TM) DNA clone set, as well as continued access to the LifeSeq(R) gene sequence and expression database." That's the choice stuff for Pfizer's angle on the world though and the most developed stuff. Keep in mind that Pfizer and Upjohn are the only two Pharmas that INCY ever sold equity too (10% each before it was subsequently diluted). Hell, Pfizer's made a bunch just on the equity appreciation. At H&Q INCY CFO Denise Gilbert said that the deals average about $4M per year with a range of $2-10M, but wouldn't get more specific and said there is no set price list and each deal is unique. If I recall correctly, Pfizer was paying about $4M for LifeSeq for each of the last three years, so I'd figure this in the $6-8M per year range. INCY hasn't lost a customer yet on the renewals, although I get the feeling that Pfizer once again tortured them through the negotiations (the lawyers get richer and richer). Got to love it though!!! Which of the left out pharmas will be tired of watching the competition run away on them and will pony up next??? If I was a Pharma CEO I'd be terrified of relying on obsolete research methods and would have signed up long ago, but hey, some of these guys are really old school pharmacologists and brute force trial and error has worked in the past so why change eh? The dinosaurs thought they were pretty tough until they went extinct too. Rman

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