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Seattle Genetics, Inc. Message Board

  • hmoffsuite hmoffsuite Aug 14, 2009 8:28 PM Flag

    WSJ carries the Gates item with particulars

    AUGUST 14, 2009, 8:03 P.M. ET Gates Foundation Sells Off Most Health-Care, Pharmaceutical Holdings

    SAN FRANCISCO --The Bill and Melinda Gates Foundation, the world's largest private philanthropy fund, has sold off almost all of its pharmaceutical, biotechnology and health-care investments since the end of March, according to a regulatory filing published Friday.

    The Seattle-based charity endowment, set up by Microsoft Corp. founder Bill Gates and his wife, sold its total holding of 2.5 million shares in health-care giant Johnson & Johnson as of June 30, according to the filing.

    The foundation also sold millions of shares in major drug makers, including 14.9 million shares in Schering-Plough Corp., almost 1 million shares in

    Eli Lilly & Co., 8.1 million shares in Merck & Co. and 3.7 million shares in Wyeth, over the same time period. The foundation no longer holds shares in any of those companies.

    Among the other health and life sciences-related investments the foundation liquidated are Allos Therapeutics Inc., InterMune Inc., Auxilium Pharmaceuticals Inc. and Vertex Pharmaceuticals Inc.

    The only life science-related holding the foundation retains is a 3 million-share stake in Seattle Genetics Inc.

    The foundation has also acquired a roughly 1 million-share holding in America Movil SAB de CV, a telecommunications company controlled by Mexican mogul Carlos Slim Helu, and a 1.5 million-share holding in train company CSX Corp., according to the filing. The holding of America Movil is in American depositary shares.

    The foundation had total assets valued at $7.5 billion as of June 30, down roughly $1 billion from the end of March.

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