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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: greedsgd_2000 who wrote (1786)	10/4/2000 1:03:34 PM
From: sam	Respond to of 52153

Actually, I believe Gore is proposing a large increase in biotech funding. A Gore victory may actually be a boon for biotechs (while clearly bad news for pharmas). But before u decide my post is 'political' in nature, rest assured it isn't. If u catch my drift. ;)

To: greedsgd_2000 who wrote (1786)	10/4/2000 1:54:45 PM
From: Biomaven	Read Replies (2) \| Respond to of 52153

I think it's more likely the steady stream of large offerings by the first/second tier that's to blame for the sector's recent performance, combined with some downgrades like that of MEDI. Pharma is basically flat today, and if it was the debate they'd be down as well. Seems like every day we get hit with yet another few- hundred-million dollar offering. There's also the IMNX offering in the background. With all this extra money in the hands of the biotechs, Rick's trickle-down strategy is starting to look better and better. They can't spend it all on fancy furnishing for their offices (I hope <g>). Peter

To: greedsgd_2000 who wrote (1786)	10/5/2000 5:19:41 PM
From: Biomaven	Respond to of 52153

From a few days ago on this thread: Today's biotech downturn probably relates to 2 words "PRESIDENT GORE" Here's a little objective evidence (to back up my earlier unsupported assertion <g>) that the biotechs are not being driven by the presidential election: 128.255.244.60 Compare that graph from the beginning of September with the BTK index (or the relative strength of the BTK compared with the other indices), and you'll see no obvious correlation. Daily "prices" are available at: 128.255.244.60 FWIW, note the "verdict" on the debate - a 10% swing to Gore. Personally I thought they were both pretty awful, each in their own special way. I was amazed to see that Bush's word count was actually higher than that of Gore's - maybe I slept through some lengthy Bush rejoinders? Trying to return to topic <g>, it does seem like we are going to see some Medicare drug coverage. To the extent that this is "new" money this is good for the pharmas and biotechs; to the extent that it is offset by implicit or explicit price controls, it may be bad. Don't forget that AMGN was partially built on a foundation of government funding of EPO (in particular for dialysis patients), and so we are not talking just pharmas here. Peter