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

To: PuddleGlum who wrote (795)	12/23/1998 7:09:00 PM
From: Beltropolis Boy	Respond to of 1686

Biogen sees "excellent" year, says resignation unrelated Reuters Story - December 23, 1998 16:14 CAMBRIDGE, Mass, Dec 23 (Reuters) - The chairman of leading biotech firm Biogen Inc. said on Wednesday that the company was having "an excellent quarter." Chairman James Vincent made the remark during a conference call to reassure Wall Street analysts over the surprise resignation of the Cambridge, Mass., firm's chief executive, Biogen, the maker of Avonex, a popular drug for multiple sclerosis, will "finish up an excellent year," Vincent said, "So there is no connection between Jim's (Tobin) action and any activities or results of any nature related to the company." Vincent was referring to the sudden resignation of James Tobin, the 52-year-old chief executive. Tobin, who had been with Biogen for five years, gave his resignation to the board of directors on Tuesday. In a conference call, Vincent assured Wall Street analysts, who have had buy recommendations on the stock for at least three months, that Tobin's resignation "was totally initiated by him...This was not a discharge, this was not a gentle pushing. This was not a whisper in the ear. This has nothing to do with any actions of the board or company." There will "not be any lurching changes in strategy," Vincent said, adding that he expected to keep the titles of president and chief executive for "no longer than one to two years." He added that he expected to find Tobin's permanent replacement from within current management. According to First Call, analysts expect Biogen to report $1.80 earnings per share in 1998. In the past 90 days, more than 11 Wall Street analysts have revised their earnings estimate for the company upward.

To: PuddleGlum who wrote (795)	12/23/1998 7:20:00 PM
From: SFW	Read Replies (2) \| Respond to of 1686

Puddlegum, Biogen's ceo will be on CNBC in the morning. I got in today on the slump and will wait to see how the stock responds at the open. If BGEN goes back up above 81, What does P&F say about the next price target? A.J.

To: PuddleGlum who wrote (795)	12/23/1998 7:45:00 PM
From: JEB	Read Replies (1) \| Respond to of 1686

BGEN is being heavily shorted right now. I'm sure you probably have already figured that out. Tomorrow should be interesting. Maybe we can get a squeeze going. BTW - I have been a stockholder is this company since 1987. If anyone is interested in a bio-tech company that has a sole proprietary product going to market, and is owned by PFE, Kaufmann Fund, COBE, and the State of Michigan, look up ASTM: Subject 14049