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

To: Michael Young who wrote (3130)	6/1/1999 1:43:00 PM
From: Biomaven	Read Replies (2) \| Respond to of 10280

Mike, Normally I'd agree with you on the red flag, but in this case I just think it's a personal spat. As I said in my previous post, Maris is certainly not now being excluded from calls, and may never have been. Maris was the new analyst on the block, and he downgraded SEPR way before the top. On Zyrtec, the deal does not include the US. Here's the relationship with PFE, from the PFE 10-K: ZYRTEC is licensed to us by the Belgian company, UCB S.A., for sales in the U.S. and Canada. We copromote ZYRTEC in the U.S. with a subsidiary of UCB S.A. Be nice if the deal is followed up by a US deal - the patent life for the original is longer here, so there's not the same degree of urgency. I wonder if PFE has a veto on a US deal? May not matter, since UCB probably wouldn't want to move in the US without PFE. I guess UCB must have been conducting trials in Europe on this ICE without all the patent rights. Conceivably it was a case of disputed rights that got settled amicably. Peter

To: Michael Young who wrote (3130)	6/1/1999 2:33:00 PM
From: LLCF	Read Replies (1) \| Respond to of 10280

<That throws up a huge red flag as far as I'm concerned. Makes me wonder what the company is trying to hide.> IMO Bear Sterns is a very strange combination of businesses and has little credibility in most of them. They always go out of their way to have a few high profile analysts and investment bankers, yet even these are seemingly brought in at the whim of "ACE" Greenburg [King, CEO] for looks and something to talk about at cocktail parties. Bear continues to make tons of cash clearing little boutiques, some of them slimy beyond belief. Although they are great at PR... Bear Stearns is second rate IMO, and probably has little chance of doing investment banking for SEPR, and therefore isn't exactly sticking his neck out. DAK