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

To: BMcV who wrote (1987)	3/10/1999 9:27:00 AM
From: BMcV	Respond to of 10280

the next SEPR? David Steinberg has been an early SEPR bull, following the company since at least 1994. Here are some of this other picks (end of article): Tuesday March 9, 2:03 pm Eastern Time FOSTER CITY, Calif.--(BUSINESS WIRE)---March 9, 1999--How does a company with 1998 revenue of $17 million and $93 million in red ink get to be worth $140 a share with a market capitalization of $4 billion ... and not be an Internet company? If it's a biopharmaceuticals company with awesome potential, great partnerships, FDA approvals, analyst support and a believable business strategy, that's how! That's essentially the story of Sepracor (Nasdaq:SEPR - news), one of the darlings of biotech and one of the many stocks covered by David Steinberg, Managing Director of Drug Delivery and BioPharmaceuticals Research at Volpe Brown Whelan. Sepracor is a classic example of what can happen when timely FDA drug approvals plus successive upgrades from the analyst community can give a stock a rocket boost. Although Sepracor is not expected to be profitable until 2001, its business strategy of creating improved versions of existing drugs, forging major partnerships along the way, is obviously successful with Wall Street. ''New and improved'' is essentially Sepracor's space in the pharmaceutical industry. Its strategy of reducing toxicity and increasing potency of existing drugs, plus development of a pipeline of potential drugs of its own, has garnered support on Wall Street. Sepracor's stock has roughly tripled since mid-1998 when SEPR announced agreements with Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson (Nyse:JNJ - news). In late 1998, Sepracor announced another major partnership, this time with industry heavyweight Eli Lilly (Nyse:LLY - news). Steinberg's coverage list include a host of other widely-followed biotech stocks including Anika Therapeutics (Nasdaq:ANIK - news), Elan PLC (Nyse:ELN - news) and one of 1998's most interesting, controversial -- and volatile -- biotech stocks, EntreMed (Nasdaq:ENMD - news), for example. Steinberg will discuss how he values stocks in the biotech space. ____________ any comments on his ideas? Whole article: post.messages.yahoo.com@m2.yahoo.com

To: BMcV who wrote (1987)	3/10/1999 9:48:00 AM
From: Biomaven	Respond to of 10280

Here's my take on this FTC investigation: Ultimately, I very much doubt if anything will come of it. However, it is likely to get resolved at government speed, and so is going to be a cloud hanging over our picnic for a while. In terms of real impact,it may end up slightly constraining the marketing tactics that Lilly (and also maybe SGP) can use in extending their existing franchise. While it remains unresolved, it also produces additional uncertainty for any new deals SEPR does, possibly translating into a slightly lower royalty. However there's nothing else in the possible deals basket with quite the political impact of Prozac II. There are actually some patent doctrines relating to unlawful attempts to extend your patent monopoly that some Naderite-types have muttered about in terms of the patenting of isomers. This might have been a much bigger issue if the new patents were held by the original patent holder - imagine if Lilly knew about the improved Prozac but didn't patent it for a few years so as to deliberately get a longer patent life. I wouldn't be surprised if Barr is somewhere behind this latest move. Their generic Prozac will clearly have less value because of Prozac II, and they are aggressive about pursuing their interests in the legal/political arenas. Here's a link describing the DOJ/FTC position on the antitrust guidelines for licensing IP: cerebalaw.com Peter