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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI) -- Ignore unavailable to you. Want to Upgrade?

To: Graham Dellaire who wrote (705)	3/16/2000 6:41:00 AM
From: nihil	Read Replies (2) \| Respond to of 1154

You are quite correct. The critically important aspect of gene discovery is the knowledge of new mutations (alleles) of the gene. It is difficult for me to believe that a naturally occurring allele could be patented. But if one created a new allele, perhaps one that expressed itself in purple eyes, this would be original and possibly useful and non-obvious, and therefore patentable. The danger, of course, is that soon it will be possible (as Bill Joy points out) for small groups of people to create entirely new diseases, cures, and human variations. If one patents a useful cure he can overcharge to his heart's content. Under American law, there is no way that Clinton or any part of the government can seize private property for public use without compensation. The PTO is not subject to subtle or overt political pressure. Every patent may be challenged in court, and the PTO can be forced to issue a patent. There is no way in which a president can tamper with the law. IMO, the collapse of biotech stocks (especially genomics) reflected hysterical overevaluation of the stocks and the extraordinary ignorance of many who invested in them. Can speculators once stung take a second trip up the overvaluation mountain? It has happened before. My guess is that companies in the development phase without proven products or profits will be long in recovering, if they ever do. Those with actual sales and profits may do very well, with somewhat more conservation valuations.