Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Anthony Wong who wrote (1185)	12/4/1998 4:19:00 PM
From: Anthony Wong	Respond to of 1722

Smith Kline Beecham, Coulter team up, Shares rise on cancer drug pact By Ron Feemster, CBS MarketWatch Last Update: 12:34 PM ET Dec 4, 1998 NewsWatch PALO ALTO, Calif. (CBS.MW) -- SmithKline Beecham and Coulter Pharmaceutical said Friday that they will jointly market Coulter's I-131 Anti-B1 Antibody for the treatment of non-Hodgkin's lymphoma. Shares of Coulter (CLTR) rose 2 1/8 to 30 3/4 on the news while SmithKline Beecham (SBH) shares picked up 7/16 to 63. The two companies will share profits in the new drug equally in the "late stages of development." The agreement with SmithKline Beecham has a potential value of $132 million for Coulter, not counting future shared profits and royalties on drug sales, the companies said in a joint press release. Smith Kline Beecham agreed to pay Coulter $41.5 million up front, including a $7.5 million equity purchase in Coulter. SmithKline will also provide a $15 million line of credit to Coulter. If sales meet certain milestones in different parts of the world, Coulter will receive an additional $76 million in payments.

To: Anthony Wong who wrote (1185)	12/4/1998 4:21:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

Chiron gains on analyst upgrade, Buyout by Novartis may be on horizon for 2001 By Tiare Rath, CBS MarketWatch Last Update: 4:11 PM ET Dec 4, 1998 News Index Biotech Stocks EMERYVILLE, Calif. (CBS.MW) -- Biotechnology company Chiron's shares advanced Friday afternoon following an analyst's upgrade. Deutsche Bank Securities analyst Alex To bumped up his recommendation on Chiron (CHIR) shares to "buy" from "accumulate." The analyst said the California company looks stronger over the next year to two years based on cost-containment programs and the possibility of a buyout by Novartis (NVTSY) in 2001. In the short term, To said earnings could be as much as 30 cents a share higher because of Chiron's attempts to cut costs in its operations. In addition, sales from Regranex, which treats diabetic foot ulcers, will likely improve next year, he said. The analyst has a 12-month price target of $35 a share on the stock. Friday, Chiron's shares rose 15/16 to 23 7/8. In the long term, To said, investors should keep an eye on Chiron's relationship with Novartis, the Switzerland-based drug maker. Novartis currently holds a 49.9 percent stake in Chiron but has the option of bumping up that stake to 55 percent in January 2000. In January 2001, Novartis will be allowed to buy the rest of Chiron. "We think the possibility of a take-out by Novartis will serve to make [Chiron's] stock interesting throughout next year," To said. Tiare Rath is a reporter for CBS MarketWatch.