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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (854)	2/9/1999 12:10:00 PM
From: RCMac	Read Replies (1) \| Respond to of 3202

The AFFX v. INCY patent litigation may lead to a preliminary injunction against INCY's marketing of DNA chips, according to the 2/4/99 issue of Michael Murphy's CTSL. He notes that attorneys who've examined AFFX's motion papers think that the allegation that (long before INCY acquired Synteni) one of Synteni's principals "stole the technology" might persuade the court to enjoin INCY's sales of those chips, which represent about 6% of INCY's sales. Such an injunction might come "somewhere around the 24th of this month." (Why couldn't he say something clear and useful like "a hearing on AFFX's motion for the injunction is scheduled for the 24th"?) Murphy himself says "We doubt it" but notes that this possible injunction makes institutional holders edgy, and criticizes INCY management for their uncommunicative "bunker mentality" since the Craig Venter/Celera/PKN challenge arose last spring. Whatever one thinks of his litigation handicapping or his fairly silly denigration of INCY's IR policies, Murphy surely has it right when he concludes (1) a dip on news of such an injunction would be a buying opportunity, and (2) that INCY is way ahead of PKN/Celera/Venter and will stay that way permanently. -- RCM