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Biotech / Medical : Immunex -- Ignore unavailable to you. Want to Upgrade?

To: Binder who wrote (347)	6/25/1999 7:46:00 PM
From: James Baker	Respond to of 656

IMMUNEX is 54% owned by AHP. Who is going to buy it out? I would much prefer things staying just as they are and IMNX being able to establish itself as a high growth superstar biotech. Jim

To: Binder who wrote (347)	6/28/1999 3:45:00 PM
From: LemurHouse	Read Replies (1) \| Respond to of 656

I doubt IMNX is a buyout candidate because AHP is a majority owner, as has already been pointed out on the thread. AHP wanted to buy the rest of the company (above the 54% interest it already has) a year or so ago, but was rebuffed by IMNX mgt. I don't think either AHP or IMNX mgt would be eager to sell at this juncture. Moreover, with the success of Enbrel, IMNX has made the transition from an unprofitable biotech research firm with few commercial products, to a profitable pharma company. Its pipeline looks good and there is good reason to be hopeful for more successful products within the next couple of years. Suggest you take a look at the recent annual report and SEC filings on EDGAR website for an overview of Immy's products, pipeline and financial situation. I think your investment in IMNX will be a good one, but not because of buyout potential. I'd be quite disappointed if there were a buyout in the cards, because I think any reasonable premium would be far less than what we might expect the stock to return during the next couple of years. Cheers.