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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (2479)	10/25/1997 5:57:00 PM
From: Izzy	Read Replies (2) \| Respond to of 6136

FWIW, I note in the 1997 annual report that Simon, Herman, and I. Johnson are on the board of directors and do not appear to be AGPH employees. I wonder how many shares they are still holding. All 3 are up for re-election (annual meeting 11-6-97; John W.--are you going? Anybody else going?).

To: Steve Fancy who wrote (2479)	10/25/1997 9:07:00 PM
From: JOHN W.	Respond to of 6136

I personally do not interpret this unfortunate selling as a prediction of future stock performance. Obviously they don't know how the stock will react in the short term or they could have waited for the earnings release and sold at 56 1/2. The last time this issue came to the forefront was with Patricia M Cloherty, certainly her sale was not a predictor of future performance. I am staying, waiting for payday. I have ridden much worse downturns than this. I expect news on the Rhinovirus, AG2034, European approval and AG3340 within 5 weeks.

To: Steve Fancy who wrote (2479)	10/26/1997 1:21:00 AM
From: JOHN W.	Read Replies (4) \| Respond to of 6136

Wait a minute there seems to be a discrepancy in the last column. Those are not the shares still owned. If you are a shareholder look at page 5 of the "NOTICE OF ANNUAL MEETING OF SHAREHOLDERS ". Thesse are the numbers of shares owned as of September 12, 1997 (one week after your last reported sale on 9/5/97) are: Peter Johnson (680,200), Gary E. Friedman (273,500), John N. Abelson (117,776), Patricia M. Cloherty (20,992), A.E. Cohen (66,666), Michael E. Herman (79,666), Irving S. Johnson (35,266), Antoine T. Knoppers (50,866), Melvin I. Simon (151,666), Neil J. Clendeninn (91,118), Barry D. Quart (105,270), R. Kent Snyder (125,656). (1) "unless otherwise indicated, the persons named in the above table exercise sole voting and investment powers with respect to all shares beneficially owned by them, subject to applicable community laws. The number of shares beneficially owned includes THE FOLLOWING NUMBER OF SHARES ISSUABLE UPON EXERCISE OF STOCK OPTIONS EXERCISABLE WITHIN 60 DAYS OF SEPTEMBER 23,1997: Mr. Johnson, 568,890 shares; Friedman, 202,118, Abelson, 21,666; Cloherty, 6,666; Cohen 36,666; Herman, 32,666; Dr. Johnson, 9,166; Dr. Knoppers, 36,666; Dr. Simon 21,666; Dr. Clendinn, 20892; Dr. Quart, 86,200 shares; Snyder, 120,034." Why the difference in the numbers? You say R. Kent Snyder sold 5,000 and has 4,822 shares left but he has total when he exercises his options 125,656. Your numbers for Barry D. Quart is 19,070 having sold 8,000, where my table says he has 105,270 shares . You say Michael E. Herman only has 10,000, I say he has 79,666? I still can't find the source you and David S. cite. However I believe you data, does not account for the stock option these "millionaires" will/have execute (d) within "60 days of September 23" Selling 2,000 shares when you are getting nearly 80,000 does not forebode bad news at the company, only compensaton and personal diversification. Anyone trying to interpret this as a telling sign of insider knowledge of unannounced misfortune is making a mistake IMHO. Steve or David S. could you post the link where you have received your data? Anyone who doubts my numbers or believes I am misinterpreting them, e-mail me your fax number and I will fax the entire package I received from my broker and AGPH including this data I quoteed from page 5. Of course all shareholders probably already have it.