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Biotech / Medical : PPDI - Pharmaceutical Product Development, Inc.
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To: Lawrence Burg who wrote (20)5/28/1998 6:19:00 AM
From: Mr Bond  Read Replies (1) of 71
 
The sell-off is related to a news item May 22nd where PPD announces it will receive licenses from Eli Lilly for genitourinary compounds which it will develop on Eli Lilly's behalf. This is new to the CRO sector, as it means PPD will now participate in the risk of developing the drug (and in theory see good upside from sales of the drug if it does get to market), instead of doing fee for service work. If PPD makes a habit of these sorts of collaborations, it could eat into their earnings in the short-medium term, hence the nervousness among investors. This stock could go down further, as this is uncharted territory. I wouldn't touch it for a while, even though the stock is supported by a string of strong buy recommendations (6 according to Zacks, vs 3 holds).
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