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

To: Rocketman who wrote (4868)	5/11/1998 6:01:00 PM
From: Boyce Burge	Respond to of 9719

Rocketman, great analysis, it helped me keep my wits about me in thinking about INCY's future. I think the TIGR connection is what's scaring investors, more than the Perkin Elmer machines. Venter has had fantastic sequencing success, and has so much animus stored up against Haseltine/HGSI, that he might pour something choice into this new company. But I have no idea exactly what. He clearly is way ahead on microbial geneomes and is doing landmark work on the malaria parasite genome, but this will be small money to pharma. The genome revolution is just getting underway, and its no time to abandon the strongest player. from the wires..... RESEARCH ALERT - Incyte <INCY.O> downgraded NEW YORK, May 11 (Reuters) - Lehman Brothers said Monday it lowered its rating on shares of Incyte Pharmaceuticals Inc. to neutral from outperform after Perkin-Elmer Corp. <PKN.N> and TIGR's Craig Venter announced plans to form a new company to sequence entire human genome in the next three years. Analyst Matthew Murray said believes Perkin-Elmer collaboration could accelerate reduction in pharmaceutical industry demand for commercial genomic databases, such as Incyte's. Incyte designs, develops, markets and supports genomic database products and services. Announcement could also hurt gene mapping companies because patents issued on genes discovered after completion of the collaboration may only cover uses instead of composition of matter, Murray said. Collaboration will likely have only a minimal impact on product focused genome companies like Human Genome Sciences Inc. <HGSI.O> and Millennium Pharmaceuticals Inc. <MLNM.O> because their gene discoveries have already largely been patented or companies have filed for patents.