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

To: Biomaven who wrote (540)	6/21/2001 2:23:27 PM
From: Vector1	Respond to of 804

Merrill Lynch Global Securities Research (CELG; $27.15; D-2-1-9) Dec01E $0.30; 02E $0.51 o CELG shares are weak today due, we think, to a letter in the New England Journal of Medicine describing a high incidence of blood clotting with Thalidomide. This is not new news and physicians are aware of this. o The article reported a much greater incidence than other studies reported. Importantly, all new studies of Thalidomide already include a blood thinner to prevent this side effect. o Another potential reason for the stock weakness could be expectations for the quarter. Sales of Thalidomide have been flat for the past three quarters but we think they will be slightly better this quarter. We are forecasting $20mil but think sales could be around $19mil. We are expecting sales of Thalidomide to accelerate in 2H 01 when all of the good news that was reported in the past few weeks and further news in upcoming weeks should be incorporated into the stock. (I.Fogelman) (CELG) MLPF&S was a manager of the most recent public offering of securities of this company within the last three years. (CELG) The securities of the company are not listed but trade over-the-counter in the United States. In the US, retail sales and/or distribution of this report may be made only in states where these securities are exempt from registration or have been qualified for sale. MLPF&S or its affiliates usually make a market in the securities of this company. Copyright 2001 Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S). All rights reserved. Any unauthorized use or disclosure is prohibited. This report has been prepared and issued by MLPF&S and/or one of its affiliates and has been approved for publication in the United Kingdom by Merrill Lynch, Pierce, Fenner & Smith Limited, which is regulated by SFA; has been considered and distributed in Australia by Merrill Lynch Equities (Australia) Limited (ACN 006 276 795), a licensed securities dealer under the Australian Corporations Law; is distributed in Hong Kong by Merrill Lynch (Asia Pacific) Ltd, which is regulated by the Hong Kong SFC; and is distributed in Singapore by Merrill Lynch International Bank Ltd (Merchant Bank) and Merrill Lynch (Singapore) Pte Ltd, which are regulated by the Monetary Authority of Singapore. The information herein was obtained from various sources; we do not guarantee its accuracy or completeness. Additional information available. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities ("related investments"). MLPF&S and its affiliates may trade for their own accounts as odd-lot dealer, market maker, block positioner, specialist and/or arbitrageur in any securities of this issuer(s) or in related investments, and may be on the opposite side of public orders. MLPF&S, its affiliates, directors, officers, employees and employee benefit programs may have a long or short position in any securities of this issuer(s) or in related investments. MLPF&S or its affiliates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any entity mentioned in this report. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk.

To: Biomaven who wrote (540)	6/21/2001 8:01:16 PM
From: Miljenko Zuanic	Read Replies (2) \| Respond to of 804

<<It is clear to me that thal will get approval for MM. At that point sales will certainly get a boost, as CELG will be able to properly promote the drug.>> For what indication: fist line therapy, or only refractory? <<As of February 2001, 45 patients had been enrolled in the study, and 3 (7 percent) had had thrombotic events. Two patients had documented deep venous thrombosis; acute dyspnea developed in the third patient, who died within an hour in a hospital emergency room, with a clinical diagnosis of pulmonary embolism.>> This was very serious DVT when one pts died. They still do not know what is mechanism? Drug-drug interaction? Addition of the trombolitic drug to regime in long term cancer therapy does not sound good to me. Miljenko