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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: J Stone who wrote (14120)	2/3/1998 2:11:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

The response rate can vary. I think that the record is a day or two (for one of the PIs for AIDS. Since KS is a life threatening condition, I would expect a reasonable quick decision (6 months or less)

To: J Stone who wrote (14120)	2/3/1998 3:36:00 PM
From: Henry Niman	Respond to of 32384

CNBC just did a pharma merger update vis-a-vis Biotechs. I missed much of it, but the part that I heard seemed to confirm what has been posted. The piece was done by Tim Tindall and it was bullish, especially mid and long term. He said that there could be some overlap of programs between two merged companies (which is not the case thus far for LGND), but the R&D would increase and Biotechs would provide the innovation. Bill Haszeltine (HGSI CEO) was again interviewed and he emphasized the large number of opportunities, as well as the associated expense required to develop the leads. The report indicated that the merger's muscle combined with an emphasis on R&D would be a decided plus for Biotechs mid to long term. Biotech's emphasis on R&D was demonstrated with a graphic. Biotechs plowed back 63%, 49%, and 28% of profits by IMNX, BGEN and AMGN, respectively. In contrast the percentages for the pharmas were 16%, 9% and 7% for LLY, JNJ, and MRK.