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Biotech / Medical : Sugen (SUGN)
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To: smh who wrote (412)5/3/1999 11:13:00 PM
From: Miljenko Zuanic  Read Replies (3) of 550
 
SUGN EU!
From:
sunday-times.co.uk

<<Hence Mr Evans-Freke and Dresdner Kleinwort Benson have just raised an estimated $20 million (£13 million) through a private placing to establish Sugen Europe to seek out and work with European marketing partners. The placing values Sugen Europe at about $100 million - even though it currently has only 15 or so staff, headed by Sam Hamad, another former Bristol-Myers executive.>>

So, if SUGN US have ~50% interest in SUGN EU, beside $20 M in finance it is ~$50 M directly more in capitalization. Add to that ~25% for SUGN US from future net drugs sale in EU, it is more than big fat pharma will ever pay for SUGN drugs right in EU.

At the end, this venture may show and point to approach which will eliminate pharma bucks as necessity for bt company success and recognition.

Not bad.

Miljenko
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