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Biotech / Medical : Cambridge Antibody Technology Group -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (541)	12/20/2004 8:02:22 PM
From: fred hayes	Respond to of 625

W: But aren't those old royalty estimates? They seem to keep increasing the H sales estimates, now set for $1.2 billion for calendar 05, and I would guess continuing increases in future years. Royalty at 5+ percent, say $60 million, looks way higher than $30-$40 net of MRC royalty. But I admit to not knowing the MRC royalty rate. Anything close to $60 million in royalties supports current MC and rest of operation looks free. Maybe more pop elsewhere, but this looks pretty sweet on its face in light of the relatively low risk due to the baked in royalties... fred

To: keokalani'nui who wrote (541)	12/20/2004 10:31:42 PM
From: Madharry	Respond to of 625

I also thought that there were more potential drugs in the hopper relating to the Abott-CAT agreement and that was one of the reasons that Abott was contesting this so hotly? am I wrong? wouldnt be the first time.

To: keokalani'nui who wrote (541)	12/20/2004 10:47:09 PM
From: rkrw	Read Replies (2) \| Respond to of 625

I read a recent broker report that pegged net royalty to catg going from 0.7% to 2.1% post this win. May be a shade higher as the judge noted full royalties of just over 5%. Market cap needs to be adjusted up for the recent azn equity purchase. Royalty not close to getting catg to b/e and not much internal pipeline exposure. Market cap >$700M I believe. I sold today. Very pleased with how it turned out.