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Biotech / Medical : IGEN International

IGEN 0.0001000

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Mar 7 3:00 PM EST

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To: John Zwiener who wrote (285)	3/11/1998 10:15:00 AM
From: Renee	Read Replies (1) of 1025

An interesting article appeared in the Financial Times. The headline is Roche cuts $800M off BM price. The original deal was negotiated at $11B but was later reduced to $10.2B citing certain price adjustments. If one assumes that BM's access to the Origen technology license makes up a significant portion of the value to Roche of the BM acquisition than a reserve of $800M indicates that the stock still has ample upside near term. Of course the entire reserve may not apply totally to Igen but if it does....

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