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

To: aknahow who wrote (27133)	1/2/1999 2:04:00 PM
From: Arthur Radley	Read Replies (3) \| Respond to of 32384

George, The best news that I saw in Barron's is the interview with Sec. of Treasury Rubin in which he states he isn't going anywhere in the near future. This should bode well for the market on Monday. On another note, I've put the domicile/tax issue to bed. It is a done deal, and now lets sit back and hope that the concerned company has earnings that actually need protecting. Let 1999 be the year for biotechs.(:>) What concerns me about biotechs for this year, is the overwhelming and positive coverage they are getting in the current media. Even the monthly newsletter that I get from Waterhouse is devoted to the drug/biotech industry with the headline reading...."Fundamentals strong for drug, biotech companies". Goes on to say, "most leading drug makers are engaging in more joint ventures and licensing activies with small developmental-stage firms. Mergers and acquisitions activity is likely to increase, as companies pool strength to compete more effectively in an increasingly price-sensitive marketplace."