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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (1966)	3/9/1999 11:15:00 AM
From: BMcV	Read Replies (2) \| Respond to of 10280

Just watching the tape a bit and around 10:42 AM saw a flurry of good-sized buys (a dozen or so of 5,900/6,000 blocks) at ask of 134 1/8, bid 133 3/4. Early action this morning was mostly <1,000 share trades. Any legal experts care to comment on the story? It seems to my nonprofessional mind that there are two issues, one regulatory (FTC) and the other legal (Waxman). While there's no telling about the former, it does seem that the FTC is likely to follow the FDA, which has been pushing for single isomer drugs for some time. And as far as the possibility of congressional investigations and all that, it seems that while Waxman may not like the outcome of this patent situation, that is different than any wrongdoing. It is hard to see how action could be taken in this situation that would not be unduly restrictive in other situations. But that's just off the top of my head. Since, as David Howe pointed out, this is old news, its resurfacing here in the WSJ after a big move the day before is reminiscent of the Maris WSJ story last fall, ie, a short set-up. But we're firming around 134 and should base here before moving up.