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

To: Henry Niman who wrote (18973)	4/13/1998 11:44:00 AM
From: Harold Engstrom	Read Replies (1) \| Respond to of 32384

Henry, you have posted so frequently and with so much good information that I'll understand if you are upset with this request! Will you please summarize Ligand's pipeline, the pipeline schedule and what can be expected in terms of revenues from each product? Thanks in advance, Harold

To: Henry Niman who wrote (18973)	4/14/1998 12:36:00 AM
From: John O'Neill	Read Replies (1) \| Respond to of 32384

Henry...thanks for ligand definition.... I hear the Seattle news is speculating on a possible takeover of IMNX by American Home Products. You had mentioned the link between IMNX and LGND before ; both are concentrating on ligands/receptor site small molecules. IMNX and AHP have a standstill agreement until June of this year. Even though AHP owns 60% of IMNX, they are speculating on a "hostile takeover". I've never seen this term use when the company taking over owns majority interest already. Maybe it's a case of having to satisfy the management at IMNX. If this did occur , maybe LLY would "wake up & smell the coffee". Something like this could touch off a takeover mania of biotechs with rich pipelines. I doubt that the government will allow too much consolidation among large drug firm due to jeopardy of price competition and Medicare cost (similar to recently opposed merger in defense industry). This would leave drug giants the alternative of buying (at least controlling interest) in strategic biotechs..or risk them being bought by a competitor.. comments anyone? JO