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

To: aknahow who wrote (8151)	12/30/1998 11:19:00 PM
From: jackie	Read Replies (1) \| Respond to of 17367

George, On mergers, this from Barron's of December 28: "More specifically, a recent study by A.T. Kearney (we're grateful to Bob Farrell, Merrill Lynch's master technician, for pointing it out) examined 115 multibillion-dollar global mergers from 1993 to 1996. It found no fewer than 62% of these jumbo mergers failed to grow profits faster than their peers. And a full 58% of them produced no benefit whatsoever to shareholders." Mergers benefit the executives of the merging companies and no one else, period. Regards, Jack

To: aknahow who wrote (8151)	12/31/1998 10:44:00 AM
From: Robert K.	Read Replies (1) \| Respond to of 17367

I also sense that there are really big players just sitting on both the buy and sell side....waiting. Either one(s) could disappear in a instant. The volatility here is enormous. All IMO.

To: aknahow who wrote (8151)	1/2/1999 3:24:00 AM
From: Tharos	Respond to of 17367

It makes sense that the big guys/gals would be looking for acquisitions. Patent rights to many of the older drugs are running out. Novel antibiotics are very expensive to develop and if the last couple of "silver bullets" are any indication, there is no guarantee that they will remain effective for very long. As someone else pointed out here on the thread, it is much better to let the small companies spend the billions in development costs, all the while evaluating the technologies to see which best fit into the corporate plan. Once identified, the small companies could be purchased for a fraction of their true worth/development costs.