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

To: BubbaFred who wrote (9293)	10/11/2003 3:02:06 PM
From: rel4490	Respond to of 52153

ImClone Systems And Bristol-Myers Squibb Announce Acceptance Of Erbitux -Cetuximab- Biologics License Application For Review By The U.S. Food And Drug Admin WSJ 10/11/03

To: BubbaFred who wrote (9293)	10/11/2003 8:22:14 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Both appear very early indeed. Nobody is likely to partner either of these potential products until much later. The following passage from their web site sets off alarm bells for me: Eternal is developing anti-cancer drugs utilizing enterotoxin. Current competitive enterotoxin-based medications have an efficacy of 84% while Eternal?s version will be markedly improved at above 90%. Any anti-cancer drug with "an efficacy of 84%" would be widely used, but certainly nothing like that is available in the US. How on earth would they know at this stage that they would get "90%" efficacy? Their anti-cancer approach sounds something like IMGN's - the latter's products worked well in mice but have disappointed in human trials to date. So personally I wouldn't assign any real value at all to this pipeline yet - so you would need to value the company based on their China-based animal-husbandry business. Peter