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

To: tuck who wrote (2218)	12/3/2000 3:43:32 PM
From: NeuroInvestment	Read Replies (1) \| Respond to of 52153

There are two main prescription activity services--by far the most prominent of which is IMS, probably the one Cowen is referring to. It is sufficiently expensive to get the scrip data directly--the last time I inquired it was a monthly cost in four figures--that even the companies selling the drug often get their numbers from their investment bankers, who are the actual subscribers. The banker food chain dictates the speed with which various recipients get that Monday info. But those who issue retail customer reports generally do so late in the morning. So--it is an uneven playing field, as is always the case. Smaller players--like NI--generally barter information to get scrip data. But it is quite useful, as I have found following Provigil's (CEPH) progress. NeuroInvestment (Harry Tracy) www.neuroinvestment.com

To: tuck who wrote (2218)	12/3/2000 3:49:53 PM
From: Biomaven	Respond to of 52153

Tuck, Yes, an outfit called IMS publishes weekly data on scripts, both new and refill. It's apparently real expensive, but some brokerage houses subscribe. Also individual companies get the data for at least their own products, and so IR at your favorite biotech/pharma might be willing to share with you. imshealth.com They now also have internet "buy-as-you-go" data. I checked out a sample price for beta2 agonists for asthma: Product sales in USA for B2-Stimulants - (Oct '98 - Sept '00) £750.00 (ouch). I've heard some grumbling about the quality and coverage of the data, but kind of like the Nielsens it seems to be what people use, and it's certainly a lot better than nothing. Some drugs have some seasonality, and there is also an impact with holidays and the like, so you have to be careful about reading too much into a single week's data. The free SSB brokerage reports (registration required) often refer to this script info for the limited universe of biotechs they cover: smithbarneyresearch.com Peter