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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (17155)	12/31/2001 9:15:59 AM
From: Softechie	Read Replies (1) \| Respond to of 99280

Imclone Sys (IMCL) 55.25: --Update-- Merrill Lynch downgrades to long-term BUY from Strong Buy. According to Merrill, FDA actions against companies always raises concerns about the long-term risk factors with biotech companies. Believes that the rejection of the application could be serious and require additional clinical trial data. However, it is entirely possible and feasible that after reanalysis of the radiologic data that the application could be accepted.

To: orkrious who wrote (17155)	12/31/2001 9:30:25 AM
From: Zeev Hed	Respond to of 99280

BMY thought that IMCL was worth $70/share (they did buy 20% of the outstanding shares for that price). IMCL is not running out of cash anytime soon, and in the next year (or two), BMY is committed to pay another Billion (well, I think they already paid a chunk of that, about $300 MM?) for milestones achieved. If you are looking for long term investment, then I would buy here with a mental stop loss (closing basis) of about $41. If that is breached it could easily go to the $25/$28 area. I have an order in this morning (that did not fill yet) to buy at $42.10. Zeev