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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (4038)	2/4/1998 5:05:00 PM
From: Biomaven	Read Replies (2) \| Respond to of 9719

V1, The SEPR patent position is, to my mind, the only significant unknown in their story. Now it's unknown not because the patents aren't there (they very much are, as a search for Sepracor in the patent database will confirm -- makes for interesting reading, by the way), but because it was always a lingering question in my mind if the holders of the original patents weren't going to contest the improved versions. (If only because they are mad at SEPR for stealing "their" compounds.) Well the good news is that this does not seem to be happening. The agreements on Claritin and now Hismanal confirm that the big guys have elected to join SEPR rather than fight it. They see the ICE's as a way to extend their existing franchise and overcome their own patent expirations. (There is an ongoing patent dispute over Seldane/Allegra, but this is an interference proceeding currently being arbitrated under the terms of their agreement, and relates to the date and scope of competing inventions, not the patentability of the ICE). Thus with each succeeding license I have gotten less worried over the patent issues. There is a Morgan Stanley report on SEPR that is still probably available by fax-back. It's well worth reading. If it hasn't been updated recently, note it was put out before the Claritin and Hismanal agreements. (Sepracor's automated fax line is 800-211-9662.) SEPR was weak today, probably because of today's announcement of a large private convertible preferred offering. I shut my eyes tight and bought a little more. See my post today in the SEPR thread for why I think the offering is a good thing in the long run. Peter

To: Vector1 who wrote (4038)	2/5/1998 12:47:00 AM
From: James Silverman	Read Replies (1) \| Respond to of 9719

Vector, I wrote a report on SEPR that I can forward to you. It will be a quasi launching pad report for a biotech website that I, Dr Harmon and a host of others are a part of. Our launch has been delayed for some time, so while it was initially completed with the stock in the teens, updated with time, so just keep that in mind. If you desire, just e-mail me privately and I'll forward it.