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

To: nigel bates who wrote (816)	5/22/2003 8:18:29 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 3559

Nigel, <<Novartis got lucky in their timing, too (though luck probably isn't the right word)>> While adding $75 M to the balance shit looks good and influence REGN ability and flexibility moving forward with other programs, dilution of 7.5M shares is huge/excessive. I have no idea why management acted this way? Arrogant, or totally blind, or something else, or… Novartis got gift. Hope they will appreciate it and do something about IL-1 Trap. Also, Novartis Ophthalmic will/may soon experience significant competition for Visudyne in AMD. Better they do something, and here at REGN they have opportunity for nice shot. Miljenko