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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: LLCF who wrote (6405)	2/3/1999 1:19:00 PM
From: Rocketman	Read Replies (1) of 9719

Actually, there has been some speculation on the Yahoo theads that the drop yesterday was driven by someone big who then got a bunch of other peoples stop loss orders to kick in further driving the price down, at which point the big guy picked up all the shares cheap. Who knows??? The drop yesterday was one of those obvious overreactions. The traders make out and the long term players who had stop orders or got nervous lose out. This new PPD:AXYS joint venture seems like another wannabe looking at INCY jealously. PPD is a big clinical research org, and this is just the logical extension or their business. Maybe AXYS is finally figuring out what to do with the Sequana pieces that are left after their acquisition. Got this on AXYS from the Biotech Rumor Mill: <<<<<<<< Axys LAYOFFS Posted by anonymous victim on Thu Jan 28 10:56:45 GMT 1999 Axys Pharmaceuticals eliminated 30+ positions Wednesday 1/26/1999, mainly at the La Jolla facility. Due to a lack of new deals and a loss of old ones, the postional cloning efforts and staffing are being scaled back. Furthermore, there are now zero Sequana people in the top three levels of management, as most of the senior science types, especially the "founders", have left. According to insiders, there is supposedly a new direction that upper management is trying to push as Axys' core emphasis. >>>>>>>>> I guess this is the new emphasis. Clear out the old and try the new. But, they are only in my mind marginally competitive with a small portion of INCY's business. And, INCY has the genomic data that these guys lack and which INCY will have locked up as proprietary information. It is a clear validation of the INCY business model though. Congrats on the great buys scooping up the cheap stock! Rman

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