Replies to post #67634 on Biotech Values

[its_the_oxygen]

Hey guys, I'll come on the field trip as well. I've been to Cambridge to visit two other companies but I did not own IDIX when I was there last. I would love a tour of IDIX's manufacturing facility. If I show them that I'm down over 100k in their stock we might get a grand tour and a bagel buffet?? Who knows??

I saw Biopure's plant when I was there last and as funny as you guys may think it is, their plant is meticulously kept and very intricate in design.

When we are there we NEED to stop for lamb, sausage and brick oven pizza at San Tarpio's, on Saratoga. Kelly's pub is right up the block from San Tarpio's and their food is awesome as well. Everytime I eat at either of these joints I leave looking like a human beach ball. LOL

oxy

[DewDiligence]

Update on IDIX vs The People’s Republic of Cambridge…

http://www.wickedlocal.com/cambridge/features/x1080707691/Cambridge-biotech-co-prepares-to-sue-city-over-noise-ordinance

›Biotech Co. Prepares to Sue City Over Noise Ordinance

By Jennifer Brown
Jul 20, 2010

Cambridge biotechnology company Idenix Pharmaceuticals produces leading research for HIV and hepatitis patients. According to Cambridge residents, the company also produces too much noise.

After years of disputes with the city and the Cambridge License Commission, the company is now in the middle of a pending lawsuit against the city of Cambridge, challenging whether the city has the right to monitor the company's noise level. According to Idenix, the company has agreed to hold the case until it receives an official written notice of a recently granted noise variance.

The Cambridge License Commission met with Idenix and decided to grant the biotech company the one-year noise variance, allowing the company to reach a peak of 55 decibels--a level that is typically permitted for industrial businesses. According to Idenix, the noise is the result of air conditioners that "keep conditions suitable for conducting research."

According to neighborhood residents, the company, located at 60 Hampshire Street, has been a source of problems since it moved into the building over four years ago.

"When they first moved in four or five years ago, they were just moving into a space that had been occupied by another biotech company that didn't have as much of an impact. They didn't realize how close they were to residences, so they acted as they would in an industrial area," said Area Four Neighborhood Coalition leader Minka van Beuzekom, "Our main point is that it's not an appropriate use for a building that is so close to a neighborhood."

Although Cambridge is home to numerous industrial corporations, Idenix is the only biotech company of which the Cambridge License Commission has received complaints.

"We have noise complaints all over the city. We can only address the problem when we hear from residents," said License Commission Executive Director Elizabeth Lint. According to Lint, once the commission receives a noise complaint, they hire an investigator to look into each situation and determine the cause and location of the noise. The commission's decision for Idenix requires self-monitoring noise for a year, and the commission will revisit the company next year to check on its progress, unless there are more complaints before then.

Idenix spokeswoman Terry Dahlman says the company is trying hard to address the complaints. "It's been an ongoing process. There have been noise concerns raised and we've always tried to work to resolve them. We take the concerns seriously and we have made progress."

Van Beuzekom is doubtful of immediate progress and thinks Idenix should try to seek relief from its landlord--not from the neighbors or city.

"They were probably not told what kind of a building they were renting," she said, "It's been years--I doubt it will be taken care of in the next year. If they do manage to fix things, I'll wonder why they didn't just take care of it from the beginning."‹