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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (250)	3/10/1999 12:01:00 AM
From: Merritt	Read Replies (1) \| Respond to of 3158

D.K. About the CHIR announced buyback plan...don't they have a stand-still agreement with Novartis that expires 12-31-99? Under the terms, according to my notes, Novartis has a stake slightly less than 50%, and is not supposed to increase that position until after that date...at which time it may be upped to 55%. If my notes are correct, then it seems to me that either CHIR won't do any buying until after the expiration of the agreement or it's going to change the equation. Unless, of course, they've reached an understanding with Novartis.