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

To: Scott who wrote (765)	3/5/2000 9:10:00 PM
From: Larry Liebman	Read Replies (1) \| Respond to of 52153

MEDX will take down some $350-$400 million after a secondary. MYGN is filing for what could be $300 million in funding. It appears biotech will continue to command even greater respect in pharma negotiations, or clearly begin to consider the potential of marketing their proprietary molecules. I assume this to be a piece for marking up biotech with such resolve. Perhaps my biggest surprise in this rally has been the inability of pharma to anticipate any substantial appreciation of their biotech brethren, and their lack of foresight to purchase more on the cheap- not withstanding CNTO, AGPH, and SUGN (sigh). With so many of their molecules coming off patent, why did they hesitate to confiscate the goods when they had the chance?