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1993-01-09
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─ Area: AIDS-HIV - R ─────────────────────────────────────────────────────────
Msg#: 498 Date: 01-08-93 04:43
From: Billi Goldberg Read: Yes Replied: No
To: All Mark:
Subj: (2) CDC SUMMARY 1/6/93
──────────────────────────────────────────────────────────────────────────────
-=> Quoting Billi Goldberg to All <=-
BG> "MedImmune Shares Fall 17 Percent on Merck's AIDS Drug Review" Wall
BG> Street Journal (01/06/93), P. B6
BG> Stock shares for MedImmune dropped more than 17 percent yesterday
BG> after the biotechnology company revealed that Merck + Co. is
BG> reviewing whether to continue a collaboration on a potential AIDS
BG> vaccine. However, MedImmune executives said the market overreacted
BG> to the news. MedImmune said late Monday that unexpected discouraging
BG> results in animal laboratory studies have prompted Merck to reexamine
BG> the development program for the AIDS vaccine, MEDI 488. MedImmune
BG> added that Merck will decide within the next two months whether to
BG> continue the program. Merck would not comment on the matter, citing
BG> its policy of declining comment on research that hasn't been published
BG> in peer- reviewed journals. MedImmune closed at $19.25, off $4, in
BG> national over- the-counter trading. Merck shares were quoted at
BG> $43.125, down 75 cents in late trading on the New York Stock
BG> Exchange. MedImmune executives said that the uncertainty over the
BG> future of MEDI 488 apparently caused investors to ignore two
BG> promising developments that the company disclosed regarding
BG> later-stage products. -!-
BG> * The GrapeVine/Ferret Face BBS * NLR,ARK * 501-753-8121 DS *
BG> * PostLink(tm) v1.04 GRAPEVINE (#318) : RelayNet(tm) Hub