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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Doc Bones who wrote (4612)	10/23/2000 8:29:19 AM
From: BMcV	Read Replies (1) \| Respond to of 10280

>>I don't understand the market's prescience theory: If the market somehow knew that the drug would be worthless, and so priced the stock at $90, why would the stock have climbed back to $120 in the meantime?<< I'm not a believer in rational markets, as anyone who's been around here a while knows. My point is simply that the bulls on this board (myself included) completely misunderstood the consequences of the Prozac patent issue on R-fluoxetine. When it was first raised, the consensus was that it was a non-issue, since early generic competition would force Lilly to push harder on the ICE. And when the actual decision fell, knocking SEPR shares from 130 to 90, we thought it a gross over-reaction. In fact, the market immediately took out all future earnings expectations from R-fluoxetine. I'd be the last person to read too much into this, but it is striking. Again, my point was more that this board missed the significance of the patent extension issue completely. I could pull out the relevant posts but that's not worth the effort.