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To: Crimson Ghost who wrote (47350)	4/19/2000 5:54:00 PM
From: pater tenebrarum	Respond to of 99985

George, it's true. BMY had to withdraw a new drug that was in the final testing stage due to the high incidence of side effects. it was one of their major pipeline projects and was going to be a big money spinner. so a $3 bn. product has bitten the dust, and that was the second time they had a flop like this in a very short time. PG, BMY, et. al. are good examples that the 'safe' big caps aren't safe at all. regards, hb

To: Crimson Ghost who wrote (47350)	4/19/2000 5:55:00 PM
From: drsvelte	Respond to of 99985

15:45 ET Bristol-Myers Squibb (BMY) 49 3/4 -15 3/8 (-24%): --Update-- Company has experienced a more than $30 bln loss in market-cap on news of the NDA withdrawal for Vanlev, which was expected to be a blockbuster drug. 15:24 ET Bristol-Myers Squibb (BMY) 48 11/16 -16 7/16 (-25%): --Update-- Issue re-opens for trading... At least one firm viewing sell-off as overdone and would expect reassurance from company during the conference call to provide support to the shares. 14:55 ET Bristol-Myers Squibb (BMY) 63 1/16 -2 1/16 (halted): --Update-- Now appears that the NYSE will open stock before conference call... Current indication is $44-47. 14:39 ET Bristol-Myers Squibb (BMY) : 63 1/16 -2 1/16 (halted): --Update-- Hearing that stock will not resume trading until company has an opportunity to comment on events in the conference call. 14:21 ET Bristol-Myers Squibb (BMY) 63 1/16 -2 1/16 (halted) --Update-- Salomon Smith Barney downgrading stock from OUTPERFORM to NEUTRAL... Cowen projecting that top-line growth could fall from 13% to 11%, or as low as 9% if Vanlev is completely removed from the equation.... BMY to hold conference call to discuss events at 15:30 ET... Call in number is 913-981-5509. 14:04 ET Bristol-Myers Squibb (BMY) 63 1/16 -2 1/16 (halted) --Update-- Issue trading at $49 on Instinet following news company has withdrawn New Drug Application (NDA) for hypertension drug Vanlev following FDA inquiries... Pfizer (PFE) and Merck (MRK) seen as beneficiaries of the news. 13:41 ET Bristol-Myers Squibb (BMY) 63 1/16 -2 1/16: --Update-- Stock halted after news on delay of NDA for Vanlev. 13:37 ET Bristol-Myers Squibb (BMY) 65 1/16 -1/16: Announced what could be a significant negative for the stock - that it will delay New Drug Application (NDA) for Vanlev, a hypertension drug, citing FDA inquiries; will submit application early next year.