Biotech Values

[AlpineBV_Miller]

Re:Torcetrapib combo, Esperion, and Pfizer

You are welcome. I do not know the status of the oral drug for certain. I only know the plan was to bring it along slowly in targeted niche applications post-acquisition and that it would have entered the clinic in 2004 if ESPR would have stayed independent.

I'll pass on commenting on AGIX in this forum (as a general policy) other than to say the deal is part of an overall larger macro trend we expect to see accelerate in 2006.

David Miller
BSR, LLC

At the time this was written, I own no shares of the companies mentioned here.