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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: scott_jiminez who wrote (8054)	7/5/2000 11:15:17 AM
From: Vector1	Read Replies (3) \| Respond to of 9719

Scott, I am surprised by your comments. I have no special relationship with INCY. That was my partner Rocketman in starting the thread and he has not been involved in VD stock picking for years. In the past I have sold INCY when I thought it got ahead of itself and I thought the company made a mistake when it created its tracking stock. In the low 80s I think its an incredible value. Thats my opinion and the model performance will be affected accordingly. The company is in a leadership position in genomic information and bioinformatics and has a patent estate second to none. I believe these areas have tremedous future value and INCY will be one of the winners. If anything I have been insuffficently aggresive in purchasing the stock given todays action. The reason I mention lack of respect for INCY is that there are a few analysts who are extremely negative on the stock to the point where they have staked their reputations and possibly their careers on INCY crashing. One is Paul Kelly at ING. He has a sell on the stock. Paul is very close to CRA and a lot of the negative info IMO comes from them. I do not blame CRA, denying a competitor access to capital in this market is a great competitive advantage. IMO this has created a fair bit of negative sentiment and has created a buying opportunity. From Kelly's latest June27 report. Winners and Losers in the Post Genomics Era (Part 1 of 3) · * Emphasis shifts now to higher-order information, i.e., gene function, disease relevance and, therapeutic utility and the role of genetic variation in disease predisposition and drug responsiveness * · * Clear winners, in our view - companies with the technologies to develop and/or exploit higher-order information: Celera and Gene Logic Inc. +~ (OTC: GLGC - 37 1/16) in reference databases; Affymetrix, Inc.+~ (OTC: AFFX - 181 1/2), PE Biosystems (NYSE: PEB - 63 1/4) and Sangamo BioSciences, Inc. +~ (OTC: SGMO - 18 3/4) in R&D Tools; and Molecular Devices+~ (OTC: MDCC - 68 3/8) and Pharmacopeia~ (OTC: PCOP - 39) in "downstream" drug discovery markets. · * The losers, as we see it - companies whose technologies and/or competitive advantages have been eclipsed: Incyte in reference databases and Incyte Genomics Inc.~ (OTC: INCY - 89 5/16) and Human Genome Sciences, Inc.~ (HGSI - 143 3/8) in the "land grab" gene sequence patent race. * I disagree with Mr. Kelly regarding INCY (I agree on HGSI, AFFX, PEB and PCOP) and am willing to put my $$ on the line. V1