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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: EyeDrMike who wrote (2547)	11/16/1997 8:08:00 PM
From: RT	Respond to of 23519

EyeDrMike, <Why the massive insider selling in PFE> They are selling PFE to buy stock in VVUS. <ggg> Seriously, it always raises a red flag when several high level executives start selling. Perhaps they feel their stock is overvalued and they expect a near term correction. You never listed how many shares each VP still owned or by what percentage they had decreased their holdings.... If they each reduced their shares by a significient amount I would consider that a negative vote of confidence.. In the overall scheme of things it may not actually be a massive selloff as you had indicated. RT

To: EyeDrMike who wrote (2547)	11/16/1997 8:44:00 PM
From: BigKNY3	Read Replies (1) \| Respond to of 23519

Eye: << Is the selling due to another reason?>> Sorry to disappoint you but the PFE selling is not related to Viagra or anticipation of a PFE decline. The selling is a quarterly tradition by Pfizer executives and primarily has to do with expiration of their stock options. The selling occurs right after announcement of the quarterly earnings report. As with many corporate executives, instead of laying out money to purchase shares, the options are exerised and the shares immediately sold. This quarter, the selling occurred around October 16th (PFE@ $67). Six days later, Viagra received its priority review from the FDA and PFE jumped to 72 3/8. The PFE executives probably wished that they didn't have to sell. However, they probably still hold major investments in their company. BigKNY3