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

To: tuck who wrote (231)	12/12/2000 5:07:34 PM
From: Biomaven	Respond to of 1784

tuck, trickle market size figure Quite honestly, I haven't got a clue. You might be able to get some idea by looking at capital expenditures by biotechs - of course these get distorted if they decide to build fancy new quarters. Looking at MLNM's 1999 10-K, it looks like they maybe spent some $25 million on "equipment" vs. a total R&D expenditure of about $160 million. (You can't tell exactly, because there is depreciation as well which isn't broken down between buildings etc. and equipment). Now of course phones and computers are "equipment" as well, so not all of that is going to find its way into equipment-type trickle companies. The other (and probably better) way to approach it is to look at the actual revenues of the trickle companies. Again, this is all looking at "yesterday's" numbers. Not that helpful, I'm afraid, but all I can think of. Peter