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Incyte Corporation Message Board

  • pamela22_22 pamela22_22 Sep 8, 1999 12:45 PM Flag

    company going to be acquired

    I have it from 2 exec. VP's at major pharma company that this company will be bought by Roche in the next 4 weeks. Hold on to your hats. This is solid info.....

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    • Could someone please summarize the recent court
      decision in plain English? Exactly what effect does this
      have on the two GEM-related patent applications that
      formed the basis for this interference? Does it mean
      that these pending patents will never be issued to
      INCY? Or does it simply mean that all of the patents
      involved in the interference will coexist (in which case
      remarks of "INCY losing the war" would be vastly
      overblown)? Would an infringement lawsuit from AFFX carry any
      merit at all considering INCY's extensive
      microarray-related patent portfolio, including patents 5,807,522 and
      4,981,783?

      I read all of these patents and to me it appears
      very obvious that some of the claims overlap. Is it
      common for patents to overlap? How are these problems
      usually resolved, i.e. do such patents coexist? Why are
      patents that clearly overlap with or infringe on existing
      patents issued in the first place?

      I would really
      appreciate some help here. I am quite disappointed of INCY
      not shedding any light on this
      matter.

      Furthermore, I'd like to know whether INCY is selling
      supporting equipment (i.e. scanners and so on) for its gene
      chips. A substantial part of AFFX's revenue is made up
      of subsidized sales of expensive supporting
      equipment. This should be taken into account when
      interpreting Synteni's and AFFX's revenues.

      Thanks in
      advance.

    • The INCY attorney presented the *legal* position;
      it is not his job to reassure investors or pump the
      stock.

      I'm a bit surprised that INCY investor/public
      relations didn't have a more comforting press release
      ready, though. Either they aren't particularly concerned
      by this, they were caught off guard (which is hard
      to imagine), or they aren't very good at their jobs
      (also unlikely).

      But, come now... "1 AFFX loss
      to 1 INCY loss" is an extremely superficial
      analysis. Basically, we won the meaningless skirmish (such
      injunctions are almost never granted) but lost the first
      major battle. Unless INCY provides a better explanation
      of why they think their appeal has merit, I am going
      to assume that we have lost the *war* and that an
      infringement lawsuit from AFFX will shortly follow... and that
      their gene chip business is going to vanish (or become
      a lot more expensive) in the near
      future.

      Mind you, I never really expected them to win this
      war. There are lots of reasons to be long on INCY,
      with or without the gene chip
      business.

      Nevertheless I find the situation quite strange. I'm
      accustomed to seeing aggressive run-ups followed (1-2 weeks
      later) by positive news which *some* people were
      obviously privy to. Either there was false rumour going
      around that INCY had won the interference, or some other
      news is still pending. I personally don't believe that
      the stock has shot up 60% in three weeks because of
      "sector cycling". If the price craters back to $25/share
      next week, we'll know...

    • When INCY previously announced that revenues from
      Synteni division would be less than expected, they noted
      that the AFFX lawsuit had hurt sales due to the
      uncertainty over patent litigation. They then later said that
      the victory in the preliminary injunction matter
      would help them in overcoming that feeling among
      potential clients.

      Taking INCY assertions as
      accurate, this PTO loss should definitely hurt Incyte in
      gaining potential clients for their products that compete
      against the gene chip.

      Furthermore, as I recall,
      part of the reason that the preliminary injunction
      that was not allowed back in April was that a decision
      by the patent office had not yet been made, so that
      there really was no reason for the preliminary
      injunction. I wonder if now that the PTO has ruled for AFFX
      if AFFX will go back and attempt to get a
      preliminary injunction.

      Whatever happens, I suspect
      that AFFX will continue to gain market share while
      Synteni sales remain stagnant due to the lawsuit.
      Furthermore, with the opening of AFFX's new Sacramento
      facility, AFFX will probably start improving margins and
      lowering costs as they sell more chips. AFFX vs. Synteni
      will be like Intel vs. AMD.

      INCY under 33 on
      Monday.

    • I don't know too much about the background here
      between INCY and AFFX, but I do know from reading
      published reports quoting management that INCY didn't seem
      too conservative in their expectaitons for this
      outcome.

      If I recall correctly, this outcome was considered a
      "nil" possibility.

      Anyone have thoughts on how
      much this will drop on Monday? I have never liked
      these announcements that occur after Friday's close,
      thus making us wait the entire weekend to see what the
      markets' think.

      Best of Luck to all

    • 1. INCY ran up recently only because other
      genomics companies have been getting good press. For
      instance, AFFX business is clearly taking off, CRA has
      placed itself to become THE source of genomic
      information, HGSI has quite a few drugs now in advanced
      clinical trials, and MLNM is basically just an awesome
      company.

      What does INCY have?
      Oh yea,:
      1. A rapidly
      depreciating genetic database of EST
      2. Thousands of
      useless EST patents that have NO CHANGE of being held up
      in court.
      3. An a worthless chip technology in
      its Synteni operations--I think it had like 2 million
      in revs last quarter vs. AFFX at over $20
      million.

      AND, NOW, beyond the fact that everyone within pharma,
      biotech & academia know that AFFX chips are the way to
      go, the PTO has laid it down today: "Incyte, you have
      no chance in hell; Affymetrix is clearly the owner
      of this technology."

      This should not come as
      a surprise to many (at least those outside of Wall
      Street). Those of us who use these products know the
      situation much better.

      Incyte claims that AFFX
      claims are too broad, and therefore they shouldn't have
      been issued patents. Well, guess what? I can name an
      even broader patent...to PCR. Roche owns rights to PCR
      (and PEB rights in sequencing applications). It is
      widely considered that PCR is one of the largest
      biological innovations of this decade, and one company owns
      the intellectual rights.

      INCY LONGS: it's been
      a nice ride lately on the coat tails of companies
      in this industry that are innovating and leading a
      new charge. I suggess you take your profits; it is
      certainly better to take you gains now than have to live
      with your losses later.

      THIS THING IS GOING FOR
      A BIG, BIG DROP ON MONDAY!!!!

    • on why this stock has taken off over the last few
      weeks. If this stock was caught up in the biotech frenzy
      and momentum trading (as I've previously posted) and
      not because significant good news about INCY is
      coming out shortly, IMO this stocks going to be hit
      hard. Again, JMO. We'll see Monday. Long term, I still
      feel it's a great investment but not without
      significant volatility short term. Hang tight and good luck.

    • IF you read both press releases it sounds like
      Affx is treating it pretty casually, perhaps since
      they know it is in Appeal and it is just a decision on
      Intereference. Meanwhile INCY attorney is keeping up with his
      ultra conservative style of painting a neutral to
      negative picture.
      The way I look at this so far score
      is 1 AFFX loss to 1 INCY loss.
      Next round INCY
      will probably get its own exclusive patents issued
      minus some claims and the rest of the world pays
      royalty to either INCY or AFFX depending on which
      technology they want to license. Obviously INCY technology
      is simpler and less costly so more folks will use
      it. Again more reasons to stay LONG on INCY.

    • Not good news for INCY.



      Patent
      Office Announces Decision in Affymetrix'
      Favor in
      Both Interferences With
      Incyte
      Pharmaceuticals

      SANTA CLARA, Calif., Sept. 10 /PRNewswire/ --
      Affymetrix, Inc. (Nasdaq: AFFX - news), announced that the
      U.S. Patent
      and Trademark Office (PTO) issued
      decisions today in favor of Affymetrix in both
      interferences initiated by Incyte/Synteni
      (Nasdaq: INCY -
      news). Judge Torczon stated that Incyte ``... failed to
      establish a threshold case ...'' and issued an order
      to
      show cause against Incyte. The interferences related
      to certain claims of U.S. Patent Numbers 5,744,305
      and 5,800,992.
      Incyte attempted to provoke
      interferences with the two Affymetrix patents in response to
      lawsuits filed to prevent violations of
      Affymetrix'
      intellectual property by Incyte.

      ``Today's ruling is
      consistent with the Patent Office's initial decision to
      grant each of the patents. The PTO was required
      to
      address Incyte's request for an interference, regardless
      of its merit, and the patent office has now done so
      in our favor,''
      commented Phil McGarrigle, Chief
      Intellectual Property Counsel of Affymetrix. ``We look forward
      to even greater focus on
      building our business
      and accelerating the pace of biological research with
      our unique technologies,'' added Vern
      Norviel,
      Senior Vice President and General Counsel of
      Affymetrix.

      Affymetrix has developed and intends to establish its
      GeneChip´┐Ż system as the platform of choice for acquiring,
      analyzing and
      managing complex genetic information in
      order to improve the diagnosis, monitoring and
      treatment of disease. The Company's
      GeneChip system
      consists of disposable DNA probe arrays containing gene
      sequences on a chip, reagents for use with the
      probe
      arrays, a scanner and other instruments to process the
      probe arrays and software to analyze and manage
      genetic
      information. Additional information on Affymetrix and GeneChip
      technology can be found at www.affymetrix.com.

      All
      statements in this press release that are not historical are
      forward-looking statements within the meaning of Section 21E
      of
      the Securities Exchange Act, including statements
      regarding the Company's ``expectations,'' ``beliefs,''
      ``hopes,'' ``intentions,''
      ``strategies'' or the like.
      Such statements are subject to risks and uncertainties
      that could cause actual results to differ
      materially
      for Affymetrix from those projected, including, but
      not limited to, uncertainties relating to
      technological approaches, product
      development,
      manufacturing, and market acceptance, uncertainties related to
      cost and pricing of Affymetrix products,
      dependence
      on collaborative partners, uncertainties relating to
      sole source suppliers, uncertainties relating to FDA
      and other
      regulatory approvals, competition, risks
      relating to intellectual property of others and the
      uncertainties of patent protection and
      litigation. These and
      other risk factors are discussed in Affymetrix' Annual
      Report on Form 10-K for the year ended December
      31,
      1998 and 10-Q for the quarter ended June 30, 1999 and
      Form S-3 filed July 12, 1999, as amended. Affymetrix
      expressly
      disclaims any obligation or undertaking to release publicly
      any updates or revisions to any forward-looking
      statements
      contained herein to reflect any change in Affymetrix'
      expectations with regard thereto or any change in events,
      conditions, or
      circumstances on which any such statements
      are based.

      NOTE: Affymetrix, GeneChip and the
      Affymetrix logo are registered trademarks used by
      Affymetrix, Inc.

      SOURCE: Affymetrix, Inc.

    • This question of sequence data is all very
      interesting, yet from my limited knowledge, to obtain a valid
      patent of a sequence, one must be a relative specific
      "utility" of that sequence. If this is so, it would seem to
      me that the NIH sequencing project will have plenty
      of time to complete the human genome project and
      provide this information free of charge.

      It will
      perhaps be the ability to "read" and understand this
      sequence in a meaning way that will provide the real gems.

    • Great job longs. It's been like a rocket. The guy
      that said nothing goes up forever was 100% right. I
      think it might drop some from here. For us it would
      have to drop to right around where we bought it at
      28.375 on 8/31/99 for us to sell it. We hope the
      retracement is slow & orderly.

      Bob

      <Yahoo
      won't let us link our web site. It is our name>

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INCY
90.118-1.852(-2.01%)10:17 AMEST

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