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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: scaram(o)uche who wrote (4946)7/22/1998 1:31:00 PM
From: Peter Singleton   of 6136
 
Rick, the body of evidence for "Rick Harmon, Biotech Guru" continues to grow. Really insightful point about Clinichem from Biochem Pharma as a possible model for the AGPH Oncology Division stock.

AGPH could make a couple of changes, and issue the following text from the Clinichem announcement:

<<CliniChem was formed by BioChem for the purpose of conducting the
clinical development of certain of its therapeutic and vaccine product
candidates with a goal of commercializing such products. CliniChem will
continue the development of a number of therapeutic and vaccine
candidates initially discovered and developed by BioChem. BioChem has
made a capital contribution amounting to CDN $150 million to CliniChem.

''The formation of CliniChem is a major element of our strategy to
invest heavily in research and development in order to assure a growing
pipeline and to benefit shareholders in the long run,'' said Dr.
Francesco Bellini, Chief Executive Officer of BioChem Pharma. BioChem
holds an option to acquire commercialization rights with respect to
individual products developed by CliniChem on a country-by-country
basis. BioChem, as holder of the Class B Common Shares of CliniChem,
holds an option to purchase all of the outstanding CliniChem Common
Shares at a price to be set according to a predetermined formula.>>
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