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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: Larry Liebman who wrote (800)	1/14/2000 8:54:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 3158

Larry, Well the market's initial reaction to the MLNM/LKST deal may have given the big biotechs second thoughts. I own both NBIX (which is suddenly my second-largest holding) and ALXN, but it's hard for a muncher to stomach paying so much more than just a few months ago. ALXN is also pretty partnered-up with P&G. AHP is likely to go hunting now that WLA looks like it's ending up inside something even higher up the food chain. I wonder if FRX might not be a logical candidate for AHP. ELN and AZA (again) are probably also potential prey for the big guys. As SEPR gets closer to breakeven it becomes more vulnerable to any of the big guys that worry about their pipeline (i.e., all of them). It's probably protected by its losses for a year or so, but then watch out. AMGN, BGEN and CHIR have been remarkably quiet this last year, and maybe you are right that they are finally ready to hunt. Don't forget DNA, with what some view as its inflated stock price, and CRA, which in my view is going to have to play the inut game - use its high-priced stock to buy stuff that will actually provide a pipeline. Peter