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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer
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To: gy who wrote (1057)7/14/1998 7:41:00 PM
From: David Cathcart  Read Replies (1) of 1826
 
<< I don't understand "shareholder right plan".>>

If your stock price goes up, you are "shareholder right." If it goes down, you are "shareholder wrong."

Seriously, on the surface, it looks like MGI Pharma is acting like they have something that they want to protect from a possible future hostile takeover bid. Whether they do or not is yet to be seen. Perhaps if MGI 114 continues to progress favorably in the trials, its potential value could exceed that of the present market cap of MOGN. In such a case a big pharma interested in the drug could simply take over MGI Pharma, sell off the niche drugs that they do not want, and be left with the "ANSWER FOR CANCER." The shareholder rights plan could make such an attempt more difficult and costly.

Let's hope MOGN has something other than Salagen to get the big pharmas salivating.

David
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