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

To: John Metcalf who wrote (7227)	10/23/2002 8:44:13 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 52153

I think the Satire piece was particularly observant of a local company's hand waving. Nastech wasn't even sued, as far as I can tell. Dow Jones Business News Nastech/Pfizer -2: Intranasal Product Uses Different Method Wednesday October 23, 4:16 pm ET BOTHELL, Wash. -(Dow Jones)- Nastech Pharmaceutical Co. (NasdaqNM:NSTK - News) said the patent Pfizer Inc. (NYSE:PFE - News) received covering the way Viagra works to treat impotence doesn't pertain to Nastech's intranasal apomorphine products and, therefore, the company isn't subject to a lawsuit from Pfizer. As reported, Pfizer received a broad U.S. patent Tuesday covering PDE-5 inhibitors and immediately filed lawsuits to block rivals from selling competing products relying on the same biological mechanism. Specifically, the pharmaceutical giant filed lawsuits against Bayer AG (BAY) and its partner GlaxoSmithKline PLC (GSK), which plan to comarket their impotence drug Levitra in the U.S. next year. In addition, Pfizer also launched a suit against Eli Lilly & Co. (LLY), Icos Corp. (NasdaqNM:ICOS - News) and a joint venture they formed to develop and market their competing treatment Cialis, which is also set to launch next year. Unlike Viagra and other PDE-5 inhibitors in development, apomorphine stimulates certain dopamine receptors in the brain to treat impotence, Nastech said. The company received a U.S. patent earlier this year on the method of treatment. Nastech said the exclusive worldwide license agreement it signed n February with Pharmacia Corp. (NYSE:PHA - News) for the development and commercialization of intranasal apomorphine remains in effect, adding that it is pleased with the progress to date. Shortly before the close Wednesday, shares of Nastech were trading at $9.88, up 63 cents, or 6.8%, on Nasdaq volume of 62,744 shares. Average daily volume is 66,809 shares.