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

To: Shawn Donahue who wrote (6244)	4/30/2002 4:21:33 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Shawn, A nice article - thanks. Pharma, despite the IMCL debacle, have nowhere else to go than the biotechs to fill their pipe. It's kind of like the US and oil supplies - the administration can huff and puff all they want about developing domestic supplies, but everyone knows that the Middle East is where the marginal oil supply is, and ultimately that's where you have to deal. Perhaps pharma will just wait until approval instead of doing a late stage deal - but then of course they will have to pay more. Most biotechs at this point have enough money to delay dealing until approval. In today's SEPR CC, they stated their view that the FDA is being ultra-tough about safety for new drugs that will be widely used and don't offer dramatic benefits over existing approved drugs. (The Cialis delay announced today fits with this view). Peter