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To: allen menglin chen who wrote (106230)	7/17/2000 12:15:33 PM
From: H James Morris	Respond to of 164684

Allen, re:lbrt Good timing. Btw The following stocks made new highs during the past week: Aclara BioSci ACLA 66 Lexicon Genet LEXG 48 Alza AZA 67 Orchid BioSci ORCH 61 Axonyx AXYX 21 OSI Pharm OSIP 34 Cephalon CEPH 84 Packard BioSc PBSC 26 Cepheid CPHD 28 Pain Therap PTIE 26 COR Therap CORR 110 Paradigm Gen PDGM 22 Dendreon DNDN 25 Pfizer PFE 49 Elan Corp ELN 53 Praecis Pharm PRCS 40 Exelixis EXEL 50 Syncor SCOR 89 Genomic Solut GNSL 30 Trimeris TRMS 76 Genzyme GENZ 71 Vertex Pharm VRTX 133 Merrill Lynch Pharmaceutical HOLDRs PPH 107

To: allen menglin chen who wrote (106230)	7/18/2000 12:14:47 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Allen, added Dcgn at 23 in the open market. >Reykjavik, Iceland, July 18 (Bloomberg) -- DeCode Genetics Inc., which is mapping the genes of Iceland's population, raised $173 million in an initial share sale as investors bet its efforts will help lead to cures for arthritis and other ailments. The company sold 9.63 million shares at $18, the top of the price range used when taking orders from investors, said banks managing the offering. Reykjavik, Iceland-based deCode earlier increased the number of shares on sale by 20 percent. DeCode is taking advantage of Iceland's homogenous population and careful record-keeping to find genes linked to illness. The company has grabbed headlines because of an unusual research approach and one large drug-making customer, Roche Holding AG, which has already agreed to pay deCode as much as $200 million to help trace the roots of 12 common diseases. ``This company will be on my radar screen,'' said Breda Cummins, who manages about 170 million euros ($159 million) for Robeco NV's global health care fund in Rotterdam. Cummins said she might add deCode shares to her fund, though she would meet with company officials before taking such a step. Iceland is considered an ideal venue for this type of research because there's little variation in the population's genetic makeup. Settlers who came to the country more than 11 centuries ago remained largely cut off from the rest of the world until World War II. Genealogy Penchant What's more, Iceland's health-care system, centralized in 1915, has kept careful records, and Icelanders' penchant for genealogy means that family trees can be reconstructed with ease and accuracy. DeCode works with the records and blood samples to build its genetic database. DeCode's accomplishments include identifying two genetic mutations that increase a woman's odds of developing potentially fatal blood clots during pregnancy and isolating an area of the chromosome with a gene that may be a cause of osteo-arthritis, a joint disease affecting about 40 million people worldwide. The company's efforts could also help pinpoint the genetic variations that cause people to respond differently to the same drugs, so that therapeutic regimens could be tailored to individual patients. DeCode reported an accumulated deficit of $76.7 million at the end of last year and said it expects to incur more losses during the next several years. Morgan Stanley Dean Witter & Co. managed the initial public offering with Lehman Brothers Holdings Inc. They have the option to purchase an additional 1.44 million shares at the IPO price over coming weeks. DeCode's shares are slated to begin trading today on the Nasdaq Stock Market in the U.S. and the Easdaq Stock Market in Europe tomorrow under the symbol ``DCGN.'' Jul/18/2000 9:24 ET