The Vincent/Tobin things is bizarre. The problem probably stems from two very bright people with vision trying to run one company. Vincent started at the company when it was reportedly on the brink of failure and brought it from zero to a mini-pharm. It is probably difficult for him to someone else take the reins completely from him.
Over the past few years, Biogen has put a very strong and professional management team together. They have built a strong organization primarily by promoting from within. And they have developed a methodology for bring a promising drug from the lab to market. In addition to the products that they already manufacture or license, VLA-4, anti-CD40L, LFA3TIP, and CVT124 are moving through the pipeline - and along with Avonex, some are being tried on multiple indications. In addition, Biogen said an IND for a new compound would be forthcoming in the not too distant future. Jim Tobin is an excellent CEO and he demonstrated that by helping to leave a very strong company behind him.
I hope you are right about the company's earnings being so strong. With the relaunch of Avonex for 2ndary progressive slated for '00, Avonex momentum should continue. If the anti-CD40L data is good, then there will be a solid floor for the stock price. LFA3TIP should be the 1st new product out of the chute. Merck should be into Phase II VLA-4 trials by now. The clinical trials database shows Phase II Lupus trials for anti-CD40L began in November, but I haven't verified that.
Thanks for your trading advice V1,
Harold |
