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

To: Luke who wrote (1099)	8/11/1999 5:44:00 AM
From: Luke	Respond to of 1686

one of probably many of this type: BW0099 AUG 10,1999 5:14 PACIFIC 08:14 EASTERN ( BW)(FL-IVAX)(IVX) IVAX Subsidiary Signs Agreement to Develop Generic Versions of Biotech Products Business Editors MIAMI--(BUSINESS WIRE)--Aug. 10, 1999--IVAX Corporation (AMEX:IVX) today announced that Baker Norton Pharmaceuticals, Inc., its U.S.-based innovative research and development subsidiary, has entered into an agreement with privately-held Indiana Protein Technologies, Inc. (IPT) to use their recombinant technology to develop a number of generic peptide-based biotech pharmaceutical products. Baker Norton will be responsible for any clinical support needed for regulatory approvals and will have all rights to commercialize the products worldwide. Under the agreement, Baker Norton will finance the development work and then pay IPT royalties when the products come to market. IVAX Corporation will also receive a minority equity interest in IPT, with options to increase its equity position over time. Dr. Phillip Frost, chairman and chief executive officer of IVAX Corporation, commented, "We, at IVAX, are delighted to work with the skilled and experienced team at IPT to develop a line of generic biotech products whose brand name equivalents comprise an increasing share of the overall world pharmaceutical market. In 1998, global sales of these products reached approximately $6 billion. IPT's particular expertise should permit us to achieve our goal of being a very early entrant into this market as patents expire." IVAX Corporation, headquartered in Miami, is a holding company with subsidiaries engaged in the research, development, manufacture and marketing of branded and generic pharmaceuticals in the U.S. and international markets.

To: Luke who wrote (1099)	8/16/1999 7:56:00 PM
From: P.M.Freedman	Read Replies (1) \| Respond to of 1686

The European patent issue won't hurt BGEN too much. It will only add some European competitors to make similar drugs. It will have to take additional three years to get the new drug analogs to be approved. However, the old US patent law suit with Berlex Lab may become a key issue for BGEN in the bear future. The case has been being active since July 1996. Another hearing has been scheduled in the coming November and the final trial of the case will be in Feb. of next year. If lose, the company will have to pay Berlex for the damage. I am expecting a settlement between the two parties before the final trial. BGEN may not be willing to take the risk of losing the case. However, the future earnings may be affected surely. How much? It will be fully depending on the settlement. Good luck!