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Biotech / Medical : IGEN International -- Ignore unavailable to you. Want to Upgrade?

To: Invest2Ride who wrote (434)	9/15/1998 4:00:00 PM
From: James Perry	Read Replies (1) \| Respond to of 1025

Everything you say is correct. However, not mentioned is the fact of the suit against Boehringer Mannheim/Roche, the representation by Lehman Bros. to negotiate settlement, nor the fact there was a recent conference in Switzerland concerning the disposition of that suit. Montgomery is estimating that settlement could bring Igen as much as $40 cash per share. Of course, that looks to settlement on the basis which Boehringer had heretofore indicated to be desirable to her - one in which they simply bought out (without payment of the 9% royalties which would otherwise be due) the right to make sales to hospitals and clinical labs. Of course, the fact that Igen is marketing the high throughput machines to drug companies and also has a point of care device would no doubt come into consideration at any settlement discussion. Roche has bought Boehringer since commencement of the suit, and Roche wants to have primary control of the test market - and if she doesn't do something to resolve matters, it would seem unlikely that she would receive much consideration for license to distribute a point of care device. Thus, while settlement would only have to encompass payment of the royalties in contention, it is far more likely to be a wider ranging agreement. And it is that which has precluded the sale of any of my shares and which would make me quite apprehensive at being out of the market where Igen shares are concerned.