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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Cytokine1 who wrote (7613)	2/23/2000 9:53:00 PM
From: celeryroot.com	Read Replies (1) \| Respond to of 9719

this is kind of interesting Wednesday February 23 5:01 PM ET Medical Journal Apologizes By LINDA A. JOHNSON Associated Press Writer In an extraordinary apology to readers, the prestigious New England Journal of Medicine admitted violating its financial conflict-of-interest policy 19 times over the past three years in its selection of doctors to review new drug treatments. The Boston-based weekly journal, considered one of the world's premier medical publications, disclosed in Thursday's issue that it let doctors who had financial ties to the drug makers write the articles. ''It was carelessness on our part,'' Dr. Marcia Angell, editor in chief since September, said in an interview. The internal review was prompted by a news report about one such violation last fall. It found 18 additional instances since January 1997. The violations involve the journal's ''Drug Therapy'' feature, a series of reviews of the latest drug treatments for particular illnesses. In each case, the journal failed to disqualify authors even though they had revealed their financial ties up front, Angell said. Angell said the journal solicits authors to write the reviews but is supposed to bar those have directly or indirectly received ''major research support'' or payment as a consultant from companies that make drugs prominently discussed in those articles. The ''Drug Therapy'' series is overseen by an outside editor, Dr. Alistair J.J. Wood, a pharmacology professor at Vanderbilt University. Angell said Wood disqualified authors who personally received significant research funding from the maker of drugs discussed prominently in an article, but failed to disqualify authors whose institutions received such grants or authors who served as consultants to the drug companies. She said some in-house editors knew of the practice and overlooked it. She said she suspects there were violations before 1997, too, but the in-house review went back only three years. Wood has been editing the series for about a decade. In a letter to readers, Angell apologized for the lapse and said steps have been taken to ensure against any recurrence. She said no action was taken against Wood. He and a deputy editor who helps edit the series also signed the letter. The letter listed the 18 newly uncovered articles along with the drug makers, which ranged from little-known biotech companies to pharmaceutical giants like Bristol-Myers Squibb, Merck & Co., Pharmacia & Upjohn and Wyeth-Ayerst. The journal regularly publishes original, unsolicited articles on clinical trials of particular drugs written by academic scientists who have received major research funding from a drug manufacturer involved. In those cases, the article notes those funding sources at the end. Angell said the stricter policy for review articles is difficult to maintain because ''there's so much connection between academia and the private sector now.''

To: Cytokine1 who wrote (7613)	2/24/2000 7:54:00 PM
From: Cytokine1	Read Replies (1) \| Respond to of 9719

VD's MODEL PORTFOLIO 2/24/00 Change $36197 UP 2.39% Started 4/9/97, $100K . INDEX ^IXB UP 0.23% YTD EQUITY CHANGE 147.6% # CURRENT DAILY CURRENT COST TOTAL %GAIN/ % OF SYMBOL SHRS PRICE CHANGE %CHG VALUE SHR COST LOSS TOTAL ======= ======= ======= ======= ======= ======= ======= ======= ======= ======= NBIX 1500 34.88 2.00 6.08% 52313 12.646 18969 175.8% 3.4% INCY 900 262.00 10.00 3.97% 235800 28.95 26059 804.9% 15.2% ABSC 1000 82.38 -1.63 -1.93% 82375 8.761 8761 840.3% 5.3% BTRN 3000 17.44 -0.38 -2.11% 52313 2.25 6750 675.0% 3.4% NPSP 2000 29.50 3.75 14.56% 59000 5.50 11000 436.4% 3.8% CELG 1800 139.88 -0.88 -0.62% 251775 27.10 48780 416.1% 16.2% CGPI 2000 17.25 -0.69 -3.83% 34500 9.00 18000 91.7% 2.2% GZTC 1800 41.06 -1.83 -4.26% 73913 7.737 13927 430.7% 4.8% MOGN 1500 47.75 4.25 9.77% 71625 8.667 13000 451.0% 4.6% TRMS 2500 57.88 2.13 3.81% 144688 21.771 54427 165.8% 9.3% SEPR 1000 184.50 9.25 5.28% 184500 84.71 84713 117.8% 11.9% CLTR 5000 40.38 2.13 5.56% 201875 16.756 83778 141.0% 13.0% EPPH.OB 2500 14.88 -1.56 -9.51% 37188 6.250 15625 138.0% 2.4% GLIA 3500 20.38 -0.56 -2.69% 71313 17.563 61469 16.0% 4.6% STOCK ______ ______ ______ ______ 1553175 465258 233.8% 100.0% SHORT SALE CREDIT ______ ______ 0 MARGIN MTCE. EQUITY 100.0% MIN 30% (419) BUYING POWER $ ______ 1552337 EQUITY (NAV) ______ ______ ______ 1552756 100000 1452.8% ^IXB INDEX 1,422.15 3.23 0.23% 302.42 370.3% NOTES: OPEN orders subject to available buying power--- . BUY 500 SEPR @ $90 . BUY 500 SEPR @ $95 . . . 02/18/1999 36750 SELL 500 ABSC @ $73.50 02/18/2000 32875 SELL 500 TRMS @ $65.75 02/18/2000 28987.5 SELL 200 CELG @ $144.9375 02/18/2000 27600 SELL 100 INCY @ $$276.00 02/18/2000 7712.5 SELL 200 GZTC @ $38.5625 02/18/2000 9343.75 SELL 500 EPPH.OB @ $18.6875 02/10/2000 16500 SELL 500 CLTR @ $33.00 02/02/2000 -12968.75 BUY 500 NBIX @ $25.9375