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

To: nigel bates who wrote (3312)	4/2/2001 5:59:26 PM
From: Ian@SI	Read Replies (2) \| Respond to of 52153

With all the comments on the downgrades by LB this morning, I didn't see any service pick up the reiteration of STRONG BUY for SCIO... ++++++++++ Rough Day for Biotech Sector New York, Apr 02, 2001 (123Jump via COMTEX) -- On Monday, biotechnology stocks followed the general plunge on the markets . The Nasdaq Biotechnology Index slid throughout the day to close down 50.59, or 6.6%, to 715.98. The Amex Biotechnology Index tumbled down 33.1, or 7. 04%, to 437.14. The day started off on the wrong foot for the sector. Monday morning, Lehman Brothers lowered its ratings on three widely held biotechnology stocks. Biogen Inc. (BGEN), Genentech Inc. (DNA) and MedImmune Inc. (MEDI) were cut from "strong buy" to "buy," due to their vulnerability to market volatility. Biogen lost 1.88 to 61.44; Genentech dove 4.75, or 9.41%, to 45.75; MedImmune plunged 3.44, or 9.58%, to 32.44. However, Lehman Brothers reiterated its "strong buy" rating on Gilead Sciences Inc. (GILD), Scios Inc. (SCIO) and InterMune Pharmaceuticals Inc. (ITMN). Despite this reassurance, Gilead dove 1.94, or 5.96%, to 30.56; Scios skidded 1.69, or 7.34%, to 21.31 and InterMune dropped 1, or 4.76%, to 20.