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

To: Michael Young who wrote (3952)	5/31/2001 11:40:31 PM
From: Miljenko Zuanic	Respond to of 52153

And how you identify blockbuster drug(s)? Before, or after? Asking Cramer for advice?

To: Michael Young who wrote (3952)	6/1/2001 1:57:58 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 52153

You could have asked us about LGND in 1996. You'd have gotten an accurate prediction of exactly what has happened. Miljenko was clearly the best biotech stock-picker in the world, 1999 and 2000. It's good that you have your own methods. And Cramer.

To: Michael Young who wrote (3952)	6/2/2001 1:36:17 PM
From: Vector1	Read Replies (1) \| Respond to of 52153

<<On the other hand, getting drugs approved for small indications doesn't cause much excitement. LGND is a prime example>> I do not necessarily agree that approval for a small indication is a negative. You have to look at the drugs potential. LGND had many problems besides niche indications the most notable was a weak management with little focus. Genzyme created a major pharma business with a drug that was approved for a patient population of under 5000. Celgene's Thalomid has only been approved for a rare form of Leprocy. The real value is off label use for Multiple Myeloma and potentially other metastatic cancers. Many pharmas and biotechs seek approval for a niche indication (especially in oncology)with the expectation of expanding use through additional clinical trials and published papers in respected peer reviewed journals. V1