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

To: Henry Niman who wrote (14576)	2/11/1998 7:58:00 AM
From: John McCarthy	Respond to of 32384

Henry, <<RB, While looking for the BMY press release on the FDA rec, I ran across the press release on the FDA approval. Note that the rec was given on June 23 and the approval was Aug 5. The very short time between the rec and the vote to approve, indicates that the FDA still considers this a very serious condition and is not relying on other treatments (PIs)>> Not even close. Their quickness in this decision had to do with "helping" BMY put Taxol ($800 mil. drug) in the position of an Orphan Drug with respect to K.S. Had they not done this, this quick, IVAX/NPRO's Paxene would have been allowed for the K.S. indication - which meant - Paxene could have been marketed for Breast/Ovarian cancer. As I am sure you know, the ODAC and FDA approved Paxene for K.S. on 12/26/97. However,because of the Orphan Drug Status machination orchestrated in the summer, they cannot market it. Regards, John McCarthy