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To: 2MAR$ who wrote (14788)	9/7/2001 12:24:41 PM
From: 2MAR$	Read Replies (2) \| Respond to of 208838

DJ Protein Design, Millennium Dn-2: Cos Seen As Bellwethers By Beth M. Mantz Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of Protein Design Labs Inc. (PDLI) and Millennium Pharmaceuticals Inc. (MLNM) led their fellow biotechnology companies lower Friday as the market worries that have plagued other sectors finally found their way to haunt the biotechnology industry. Protein Design Labs and Millennium Pharmaceuticals weren't falling on company-specific news or investors' fears about the fundamentals, said analysts. These companies are considered bellwethers of the genomic biotechnology industry and see much trading activity with extensive liquidity and tight spreads, said Steve Newby, portfolio manager of GenomicsFund.com. "When the market moves, they get pushed to more extremes rather than those that aren't traded as often," he said. The AMEX Biotechnology index recently traded at 500.03, off 15.88, or 3.07%. Shares of Protein Design Labs recently fell $3.68, or 6.6%, to $52.30 on volume of 1.9 million, which is the average daily volume. Shares of Millennium Pharmaceuticals fell $1.99, or 8.3%, to $22.04, on volume of 2.9 million, compared with average daily volume of 2.6 million. (MORE) DOW JONES NEWS 09-07-01 12:22 PM * end of story *