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

To: Alper H.YUKSEL who wrote (16417)	3/4/1998 3:33:00 PM
From: Torben Noerup Nielsen	Read Replies (1) \| Respond to of 32384

Alper, We do not really disagree since LGND is officially pursuing both strategies! However, I don't worry too much about a cap on earnings for a company that is primarily an R&D powerhouse. If they are good and can command > 10% of revenues, that may not be so bad. Especially not if it is revenues as opposed to earnings. Big drug companies spend a fair amount of money on manufacturing, distribution, advertising and all sorts of other stuff so a relatively small percentage of revenues can be a big percentage of earnings. There are also major costs for some types of clinicals and working out the optimum strategy is not so easy. Fortunately, I am convinced that Robinson and crew know all about this! Cheers, Torben P.S. Alper, isn't it past your bedtime yet? :-)