Biotech Values

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I had been following Pharmion for a while and decided of the three companies that would be how I'd play Satraplatin. GPC is obviously a better pure play and I too kept thinking Spectrum is cheap but after listening to management and (as importantly) some of GPC's calls it seems to me Spectrum management at best may not be stating things in as clear a manner as possible.

With Pharmion you get foreign rights, 200 million in annual revenue (today) and a few other compounds too. If Pharmion drops back below 20 (for no bad reason) I will seriously consider it again (may not happen though). I hope Revlimid does real well one quarter and people start getting too excited about it and totally discount Thalidomide. I think it (Thalidomide) may do well in Europe if they get first line approval for multiple myeloma.