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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Toni Wheeler who wrote (30889)	3/15/2000 4:51:00 AM
From: Toni Wheeler	Respond to of 50167

Additional opinion on biotech 'sell-off': This is the Medical Technology Stock Letter Hotline for Tuesday, March 14, 2000: <<<The biotech stocks dropped sharply today. The drop was triggered by a joint statement from President Clinton and Prime Minister Blair on the sequence of the human genome. The part of the statement which triggered the drop was: "To realize the full promise of the research, raw fundamental data on the human genome, including the human DNA sequence and its variations, should be made freely available to scientists everywhere." This was misunderstood by investors to imply a threat to biotechnology intellectual property. Contrary to these fears, the statement also included comments about intellectual property's "important role in stimulating the development" of new products. This follows a growing dispute between the leaders of the Human Genome Project and Celera, following failed attempts to find a way to work together. The sharp drop reflects both overly simplified news coverage and the large number of new biotech shareholders who do not understand these issues. We suspect that the excessive move by the genomics stocks has made many investors nervous, and this news gave them an excuse to sell. We view the weakness in our stocks as a buying opportunity, and are pleased that we now have a number of stocks trading below our buy limits. Do not panic, rather, take advantage of the opportunities. We find Chiron, CytoTherapeutics, ICOS, ImmunoGen, Isis and Onyx particularly attractive. Many of these companies will use information from the human genome project to accelerate their drug discovery efforts.>>> Jim McCamant ÿÿ <<<Jim McCamant is generally viewed as one of the nation's foremost expert on biotechnology and pharmaceutical stocks. He is the founder and editor of the Medical Technology Stock Letter (MTSL) and Agbiotech Stock Letter, two nationally recognized publications that offer analysis of developments and investment opportunities in medical and agricultural biotechnology. The media and biotechnology industry observers closely follow his views in the MTSL. McCamant has a 30-year record in the investment industry, including stints as a broker and investment analyst in San Francisco, and he was founder and principal of two brokerage firms. He founded the MTSL with Mike Murphy in 1982. McCamant's stock recommendations, appear in Worth magazine's regular monthly "What They're Recommending" section.>>>