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Biotech / Medical : Ligand (LGND) Breakout!
LGND 199.20+0.1%Nov 21 9:30 AM EST
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To: Henry Niman who wrote (27110)12/31/1998 4:53:00 PM
From: aknahow  Read Replies (1) of 32384
 
Should 1999 see a biotech anyone is interested in propose a change in domicile to Bermuda or other tax haven, I suggest that one not automatically be against such a change.

Biotechs have a tough time raising funds and a change in domicile for companies with the potential to generate non U.S. sales and profits such a change might increase cash flow at a critical time. I mention this since, unfortunately for some a change in domicile may be an emotional issue rather than a dollars and cents issue.

I personally hope LGND, CORR and others will study this issue and decide to change domicile in 1999. One biotech has successfully done this in 1998.

M. Murphy did not oppose a specific change but he said, "It's not a big deal" IMO he was wrong. Outside of the science of a company such a domicile change is a real big deal and we all must eventually understand that it's not just science, as a biotech must be financially viable.
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