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Biotech / Medical : Abgenix, Inc. (ABGX) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (251)	7/5/2003 4:26:12 PM
From: Icebrg	Read Replies (1) \| Respond to of 590

>>ABGX plus their cash might make for an interesting pipe.>> Cash shouldn't be a major consideration at Amgen. Over the last three years they have generated between 1,5 and 2,5 billion USD per year and they held 4,7 billion in cash and short-term investments at the end of March. And with yearly revenues running at 5,5 billion dollars they will have to start getting choosy about what they put into their pipeline too. Small will not be beautiful in their eyes any more. They will however soon have to answer the question: "Where do we go from here? If the answer is "Into oncology" Abgenix might be considered a tasty bite. Otherwise not. I don't think they would consider to buy ABGX just because it is available and not too expensive. I still cannot see why they were in such a hurry to take over HuMax-IL15 from Genmab. Erik

To: nigel bates who wrote (251)	7/6/2003 4:56:48 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 590

<<Am I right in thinking that the early stage pipeline is pretty thin compared with (eg) DNA ?>> Yes, I think that they are bit short with biologic and biologic targets, regardless that from IMNX they expanded into cancer-immunology. Now, they are expanding into small molecules arena, but this is early and will take time to generate something of the substance. ABGX targets pipeline (from CRGN and LEXG collaborations) will and is in synergy with their business model. Nonetheless, I will prefer that ABGX stay independent and growth organically. <<I still cannot see why they were in such a hurry to take over HuMax-IL15 from Genmab.>> Genmab is EU company and by early contract IL-15 control was shared between companies. Difficult for AMGN, as they prefer to have solely control, like pharma. Control not only over clinical development, but as well over generated knowledge over target-candidate relations. Miljenko