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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (7288)	9/23/1998 2:34:00 PM
From: aknahow	Read Replies (1) \| Respond to of 17367

I too wonder about the self serving aspects of my post on this issue, but when I owned golds I often posted that I hated that sector and did not see how they would benefit in a deflationary scenario. The case for Biotechs seems valid. It is not as though we were imagining that DuPont, Merck and Chiron had large cash hoards waiting to be deployed, nor that Bayer might have an interest. In addition the sector is beat down and in almost any other demolished sector one expects buyouts and mergers. It happened with banks during the banking crisis, (Texas has about a hundred fewer now than in the early 90s) <g> Also in minerals and energy etc. etc. so why should this sector be exempt. One thing to remember is that deals and mergers made when the sector is on its' knees are not always in the best interest of shareholders. A deal for XOMA right now would suck. So, I don't see speculating on what will happen in the biotech sector as totally self serving. So far Astra and Bayer have made moves. Think other European companies will move before their U.S. counterparts.