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To: Sharck who wrote (231)	5/16/2002 9:04:17 AM
From: Sharck	Read Replies (2) \| Respond to of 1854

LONG BGEN over sold on this: Biogen trading down on Leerink Swan note (41.96) -- Update -- Stock down sharply to 38.50 pre-market despite generally positive BusinessWeek story; traders attributing decline to a note from boutique research firm Leerink Swann, which reportedly says that a single case of B-cell lymphoma "may potentially" have been observed out of roughly 1,350-1,500 patients treated with Amevive; says that FDA likely to apply a higher level of scrutiny to incident in attempt to determine clinical relevance of T-cell suppression. However, note does go on to say that speculation on causative effects from Amevive remains inconclusive, and incidence of lymphoma is higher in psoriasis patients. Finally, Friedman Billings initiated BGEN with an UNDERPERFORM rating today, citing slowing Avonex growth and belief that Amevive may be rejected by FDA panel, which may also be contributing to weakness in stock. LONG in premkt, target 41...