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Biotech / Medical : Biomatrix (BXM) Looking Great -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (202)	11/16/1997 11:58:00 PM
From: pkwknk	Read Replies (3) \| Respond to of 569

...a bird in the hands,da da da...I'll take an earnings story (BIOX) over a potential approval in 3-6 mo anytime in this type of mkt...as I believe I have stated before, the reimbursement issues encompasses a few key issue: 1) MD needs to be compensated---he will get a visit fee PLUS injection fee for first injection, but under Medicare RBRVS system, he presently will not get the visit fee, just the injection fee for the next two-it all adds up in a price fixed Managed care world, so this matters 2) I am hearing that MD will be expected to pay in up to 4 months for product with minimal (2%) discount for earlier payment--although this somewhat ameliorates the issue of MD not having to lay out $$$ ( a positive) it doesnt give him a sharing of profit on the markup of drug (mild negative) 3) Managed care reimbursement/dealing with drug plans like Medco, etc, is still in the works but if past history is a barometer, there will be little in it for MD from the drug markup side--MD best hope is they dont have to lay out $$$, and get a reasonable fee for injection and visit, not much different than what they now get for steroid injection I think the limited smart money that is watching this one is waiting for the next shoe to fall---rollout PR, early sales #'s, reimbursement/Medicare coding info/managed care news---the stock action reflects at present not a confusion about this but a holding pattern based on no news in the pipeline yet--this is very underfollowed, and if my homework up to now pans out and the story evolves positively from here, look for a very quick move up due to illiquidity anf thirst for earnings power in this mkt....PS dont look for a biotech co to buy back many ( if any) shares--if anything, once this story starts rolling, a secondary to increase float could happen IMHO...

To: chirodoc who wrote (202)	11/17/1997 4:18:00 PM
From: AARON DIDICH	Read Replies (2) \| Respond to of 569

Chiro: OK here goes: 1. since my buddies do not work in the OR every day nor do I necessarily have their room for my daily assignment, I will not know each use, etc. As for their knowing about ANIK, I copied the post from their newsline about the payment schedule BMY via Zimmer and gave it to the one doc today--he had no comment(you have to understand that there is a downside to doing this since you can come off knowing more than the expert in the room and it is self defeating to have egos battling.Bottom line is I will have to get back to you since I do not play socially with this pod. 2. since it had only been used once at our hospital that answers the question. The neat part though is that one patient was 43 years old and had early OA. I doubt that it will be used just as a single injection, what I recall of the product circular is spelled out:therapy consists of 3 injections. 3. That one and only case happened to be a scope, I do not know if it is indicated for routine use after each scope procedure without a diagnosis of arthritis. Any pods out there care to comment? I would be emphatically no. We did our second injection today after a scope and in a lady who was told she barely had any arthritis. She was 44. 4. I am not sure it will replace them but can become an adjuvant therapy or something to step up to such as:1. the non-steroidals are not helping or 2. you get a gastric ulcer from the high dose of oral agents you are taking and you don't want surgery yet, or 3. because of cardiac or other system problems you are not a good candidate for surgery ....... Remember this is not a cheap therapy and the dust has not settled on payment schemes yet. Akin to using a cruise missile instead of an artillery barrage. Hope those address your questions. Aaron