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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (642)	8/17/1998 8:06:00 AM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

Denmark's Novo May Drop Osteoporosis Drug, Newsletter Says Bloomberg News August 17, 1998, 5:20 a.m. ET Copenhagen, Aug. 17 (Bloomberg) -- There's a ''significant'' risk that Novo Nordisk A/S, Denmark's largest drugmaker, may have to drop development of its most ambitious and promising product, a new drug for the treatment of osteoporosis known as Levormeloxifene, said newsletter Mandag Morgen, citing unidentified Danish analysts. The analysts estimate that there's a 70 to 80 percent risk that Novo will have to stop development of the drug, on which the company has spent 600 million to 1.2 billion kroner ($87 million to $175 million), after clinical phase-two tests showed that the drug causes an unexplainable thickening of the wall of the womb, the newsletter said. Mandag Morgen also said Novo's sales of the oral diabetes drug Prandin in the U.S. are poor compared with Rezulin, a competing drug from Warner-Lambert Co. of the U.S. No one at Novo Nordisk was immediately available for comment. The company's shares were unchanged at 895 kroner. (Mandag Morgen 8/17, 7, www.Monday.dk) --David Bentow in the Copenhagen bureau (45) 33 32 21 21/ph

To: Anthony Wong who wrote (642)	8/17/1998 1:16:00 PM
From: aknahow	Read Replies (1) \| Respond to of 1722

Anthony, thanks for the many informative post. If the DuPont Conoco/ELF rumors come to pass there will be about $15 of cash headed for the drug/biotech industry, if Sanofi asset exchange is around $9 billion. Do not know value of Sanofi. Of course taxes in the cash portion of any exchange will have tax consequences but with DuPont targeting acquisitions and Merck perhaps only collaborations the drug sector is getting a great heads up in terms of events to come. nytimes.com