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

To: Scott H. Davis who wrote (554)	7/16/2001 11:36:57 AM
From: scaram(o)uche	Respond to of 3557

Scott: Sorry, but it's been ages since I've followed REGN (other than peripherals) and I can't help. When I left on vacation for the first week of July, ^BTK was about 605. Most non-news biotechs have come back hard. I won't say that there's nothing to worry about, but I don't see anything exceptional. Rick

To: Scott H. Davis who wrote (554)	7/16/2001 1:02:05 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 3557

This explains today action, not the "BIG" picture. Maybe the continued rejection rate of drug by the FDA is the bigger weight around biotechs. Biotechs Down -2: Small-Caps Hurt On FDA's Decisions By ADAM L. FREEMAN Of DOW JONES NEWSWIRES NEW YORK -- Concern over another rejection of a new drug by the Food and Drug Administration drove down stocks of biotechnology companies on Monday, taking a particiular toll on small-caps. The stocks slipped on the heels of news late Friday that the FDA rejected Pharmacia Corp.'s (PHA) painkiller Parecoxib - the latest in a string of FDA drug denials. The Dow Jones Equity Index of Biotechnology Companies was recently down 2.4%, compared to the Dow Jones Industrial Average, which was down 0.06% and the Nasdaq Composite Index which was recently off 0.8%. The Parecoxib "not approvable," came on the heels of news Tuesday that other large drug developers suffered a setback when the FDA asked for more information on the anti-asthma drug Xolair from the companies that developed it - Genentech Inc. (DNA), Tanox Inc. (TNOX) and Novartis AG (NVS). The FDA's action means that the drug will not be approved during 2001, the companies said. The biggest sector losers Monday were mostly small-cap concerns, which many analysts believe are vulnerable to bad news coming out from larger companies. OSI Pharmaceuticals Inc. (OSIP) was recently trading down 9%, Curagen Corp. (CRGN) recently off 7%, Regeneron Pharmaceuticals (REGN) slumping 6%, and Genzyme Transgenics Corp. (GZTC), down more than 5%. Jim