Das URTEIL ! - Der Tod von Medarex??? - 500 Beiträge pro Seite

[RagingBull]

By: H42
Tuesday, 21 Mar 2000 at 8:46 AM EST

CNBC just announced PDLI has a further patent problem, and lumped MEDX with them...we were smoking in pre-market, hope we don`t head for the toilet as cnbc gives this their usual moronic coverage and the shorts come swooping in..PDLI is taking a huge hit in pre market right now

Aktuell:
PDLI:-35% (Protein Design Labs)
Medx:-20%
ABGX:-10%

[RagingBull]

Reuters, 03/20/2000 16:48

Protein Design Labs loses European patent claim

FREMONT, Calif., March 20 (Reuters) - Drug developer Protein Design Labs Inc. (NASDAQ:PDLI) announced on Monday that the broad claims in its European patent on humanized monoclonal antibodies have been revoked.

PDL said it plans to appeal the decision. The process will take several years, during which the latest decision will be suspended.

The European Patent Office did not decide whether the claims were inventive, in light of the prior art, or decide other substantial issues of patentability, the company said.

The decision, announced at an oral hearing in Munich, Germany, did uphold claims that protect Zenapax, which was created at PDL and is licensed to Hoffmann-La Roche Inc., it said.

The company said it also has fundamental patents in the field of humanized monoclonal antibodies in the United States and Japan, as well as an additional patent in Europe.


"Based on our three issued U.S. patents, as well as on our Japanese and additional European patent, PDL believes that its intellectual property position in humanized monoclonal antibodies remains strong," Laurence Korn, chief executive officer, said in a statement.

"We intend to move forward with our business strategy of patent licensing, humanization of antibodies for corporate partners, and the clinical and commercial development of our proprietary pipeline of eight announced product candidates in clinical trials," he added.

But PDL said it might need to initiate formal legal actions in order to enforce its rights under its various humanization patents and said the period for filing any opposition to its second European patent ends in May 2000.

Copyright 2000, Reuters News Service

Companies or Securities discussed in this article: Symbol Name
NASDAQ:PDLI Protein Design Labs


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[RagingBull]

Biotechs pummelled on profit taking, patent setback
Mon Mar 20 19:54:00 EST 2000

By Ransdell Pierson
NEW YORK, March 20 (Reuters) -
The high-flying biotech sector hurtled closer to Earth on Monday, falling over 10 percent as some investors locked in first-quarter profits and others fled the sector on a patent setback by antibody-maker Protein Design Labs Inc , analysts said.
The Nasdaq Biotech Index , comprised of over 200 U.S.
and European firms, fell 129.28 to 1087.49, or 10.62 percent.

Biotech shares have been pounded since March 6, when the
biotech index reached its all-time zenith of 1596 -- at the
time a breathtaking 81 percent cent gain from the start of the
year.
But the index has come down 32 percent in the past two
weeks amid profit-taking and a rotation of money out of New
Economy into Old Economy issues and fright over comments made
March 14 by President Clinton and British Prime Minister Tony
Blair.
"(Monday`s) biotech downturn is definitely part of an
overall continuing trend," said Robertson Stephens analyst Jay
Silverman, who predicted things would soon stabilize.
"Biotech went up so fast earlier this year because of
momentum investors, day traders and Internet traders. And the
current trend shows that when things start to flow the other
direction, the same momentum flows with it," Silverman added.
Silverman speculated that mutual funds on Monday added to
the downturn by taking biotech profits now in order to boost
overall portfolio gains ahead of the close of the first
quarter.
Protein Design fell 47-1/32 to 134-1/8, or 26 percent,
after the California drug developer said broad claims on its
European patent on humanized monoclonal antibodies had been
revoked. The company said it plans to press an appeal of the
decision over the next several years, during which time the
patent decision would be suspended.
The patent setback spurred sharp declines in two other
companies that make antibodies, Abgenix Inc and
Medarex Inc , although their technologies are different
from that of Protein Design, Silverman said.!!!!!!!!!!!!!!!!!!!!!
"The Protein Design ruling has zero to do with Abgenix or
======================================================
Medarex, but they were hurt anyway," said Silverman.
================================================
Abgenix, based in Fremont, Calif., plummeted 112-1/2 to
199-1/2, or 36 percent. Medarex, of Princeton, N.J., fell
26-11/16 to 66-13/16, or 28 percent. The two stocks were among
the top percentage losers on the Nasdaq.
Investors bolted for the exits on March 14 after Clinton
and Blair announced that information about sequencing, or
deciphering, of the human genetic blueprint should be made
freely available to the public.
Punished biotechs later argued that investors had misread
the Clinton/Blair announcement as bad news when in fact it was
a favorable re-endorsement of existing U.S. policy to sequence
the human genome and put the information in the public domain
-- where drug companies could also utilize it.
((Health Desk, 212 859-1736))
REUTERS
Rtr 19:55 03-20-00

Copyright 2000, Reuters News Service

Wichtig: Text genau lesen!!!!!!!

[RagingBull]

Reuters, 03/21/2000 08:36

Before the Bell - Protein Design (NASDAQ:PDLI) sinks

NEW YORK, March 21 (Reuters) - Shares in drug developer Protein Design Labs Inc. sank in pre-opening trade on Tuesday, extending losses sparked by the revocation of European patent claims.


Protein Design was at 106 on the Instinet electronic broker system, down from a Monday close at 134-1/8.

The shares dropped more than $47 on Monday after the company said broad claims on its European patent on humanized monoclonal antibodies had been revoked by the European Patent Office.

Kommentar:
Die Amis sind doch unberechenbar!
Medarex verfolgt eine andere Strategie und ist von dem Urteil nicht betroffen!

[Wiggerltl]

Bitte um Übersetzung, was bedeutet das für die Zukunft???

[JSK]

Was soll das schon heißen, kaufen natürlich...

[El GrandeToro]

JSK gut erkannt

[tgfn]

bloß wann?

[RagingBull]

What`s good for ABGX.....
by: theflap1 (42/M/Minneapolis) 3/21/00 12:48 pm
Msg: 24657 of 24745
....is good for MEDX. I`m excited about the Strong Buy rating for ABGX by Robertson Stephens.

Here`s a few reminders:

Medarex and Abgenix have cross-licensed the patents covering their transgenic mice. "They have a `duopoly.` The two of them own the business," says Chase H&Q`s van den Broek.

Steven Delco, a biopharmaceutical analyst at Miller Tabak Hirsch + Co. (New York), adds that since Abgenix and Medarex engaged in a drawn-out courtroom brawl before settling on a cross-license, their patents are "litigation tested. The litigation solidified the proprietary nature of the technology."

Yet antibody development, believe it or not, is poised to become an even bigger field. Two companies--Medarex and Abgenix (Fremont, CA)--have introduced cutting-edge technology that enables the rapid and inexpensive generation of high-affinity, fully human antibodies.

"These transgenic mice are one of the most demanded technologies in life sciences," says Jay Silverman of BancBoston Robertson Stephens (New York). Carolyn Pratt of Needham & Co. (Boston, MA) states, "These two companies, in our opinion, are in possession of the best technology currently available to generate monoclonal antibodies."

STRONG BUY! Leider konnte ich heute nicht für 48$ zuschlagen :-(

[RagingBull]

Tuesday March 21, 11:47 am Eastern Time
Company Press Release
Robertson Stephens Reiterates Strong Buy Rating on ABGX
SAN FRANCISCO--(BUSINESS WIRE)--March 21, 2000--Robertson Stephens Managing Director and Senior Biopharmaceuticals Analyst Jay Silverman today reiterated his Strong Buy rating on Abgenix Inc. (NASDAQ:ABGX - news).

Abgenix is focused on the development and commercialization of proprietary monoclonal antibodies for pharmaceutical applications, including transplant related conditions, inflammation, autoimmune diseases and cancer.

``We are reiterating our Strong Buy rating on Abgenix,`` said Silverman. ``Yesterday, the European Patent Office revoked broad claims in Protein Design Labs` (PDLI - $134) humanization patent.
We believe the European Patent decision has negative implications for PDLI only and is totally unrelated to Abgenix.``

``Abgenix patents on creating fully human antibodies via transgenic mice have never been challenged, nor do we expect them to be,`` said Silverman. ``In fact, the majority of new antibodies under development since the XenoMouse became available are being developed by Abgenix and its partners.
In our view, Abgenix is an excellent buying opportunity and we reiterate our Strong Buy rating.``

Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies.
Robertson Stephens
Press Only:
Nicole Schneider, 202/326-1803