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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Alper H.YUKSEL who wrote (27120)	1/1/1999 7:45:00 AM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

CNBC just had David Molowa (Bear Stearns) and Michael Weinstein (JP Morgan) to discuss Biotechs and Medical Device companies. Earlier a pharma analyst was on and she mentioned the upcoming Biotech consolidation. Molowa indicated that Human Genome area was new, but Molecular Medicine was definitely here. He agreed that there would be some major consolidation in the sector. In the past, capital markets stepped in, but this time he thinks that the number of companies will decrease markedly with "a lot of attrition". The well managed companies will survive and will develop more specific drugs with "limitless opportunities". Hot buttons will be cancer breakthroughs. Ligand was only Biotech mentioned in this area. Molowa expects ONTAK and Panretin approval "in the not too distant future" to make LGND profitable in 2nd half of this year. Peak of the two markets is $50 million per year each. Money will allow second wave of products next year. He also mentioned Perkin-Elmer and another company (I think in the device area). Weinstein also stayed in the device area (Guident and Medtronic). When asked about smaller companies, Molowa mentioned Vaccine Development as an area overlooked by pharmas, but hepatitis B vaccine showed size of market and prevention is best medicine. He then mentioned flu mist by AVIR.