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Biotech / Medical : CLTR COULTER PHARMACEUTICAL

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To: scaram(o)uche who wrote (155)	12/5/1998 11:37:00 AM
From: Vector1	Read Replies (2) of 666

Rick, I was traveling yesterday. Looks like a great deal. The Euro royalty is double digit and the upfront leaves them with a war chest of over $200 million. Enough to start filling in the pipeline with some smart JVs. I believe the successful biotechs are going to fill some of the funding gap for the smaller companies. SBK is a great choice. SKB is an excellent selling organization and has a sales force in place that is leveragable. They currently have two oncology drugs consisting of Kytril to treat nausea and vomiting associated with chemotherapy and Hycamtin to treat ovarian, lung and other cancers. Kytril alone sells over $250 million annually in the U.S. SBK is committed to building its cancer therapy franchise and Bexxar fits in nicely. I expect an additional pop when they make their ASH pressentation on Tuesday and announce the filing of the NDA before year end. Given the nature of the deal and the lenghth of time to complete you can bet SKBs regulatory people have been all over the draft filing. V1

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