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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (1534)	3/9/2000 9:32:00 AM
From: nigel bates	Read Replies (1) \| Respond to of 4974

Interesting. Did you see that the UK Govt is proposing a similar effort using National Health Service data - which will then be farmed out to UK pharmas ? More funding - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX - news) announced today the sale of $175 million of Convertible Subordinated Notes, due 2007, through a Rule 144A offering to qualified institutional buyers. The initial purchasers have an additional $26.25 million to cover over-allotments, if any. The offering is expected to close on March 14, 2000. These Notes are convertible into Vertex Common Stock at a price equal to $80.64 per share, subject to adjustment in certain circumstances, which represents a 12.0% premium over yesterday's closing bid of $72.00. The Notes bear an interest rate of 5.0% per annum, have a seven-year term, and can be redeemed by Vertex at any time after March 17, 200 nig