X-Message-Number: 6516
From:  (David Stodolsky)
Subject: Pharmacia & Upjohn Calls Off Venture for Blood Substitute
Date: Sat, 13 Jul 96 11:57:02 +0200


Forward of article <> () by "Martha Vander Kolk" 
<>:
"Pharmacia & Upjohn Calls Off Venture for Blood Substitute, Plans 
Write-Down"
Wall Street Journal (07/05/96) P. B10; Burton, Thomas M.
     Pharmacia & Upjohn has ended a blood-substitute research project 
with Biopure Corp., and it took a nearly $70 million charge against 
its second-quarter earnings to write down the cost of the risky 
investment.  The move emphasizes both the enormous costs of 
research and the unanswered questions about whether blood 
substitutes can succeed.  Some Wall Street analysts and physicians 
predict that blood substitutes will become a multi-billion-dollar 
annual business, while others believe that safety and cost will 
ultimately be the product's downfall.  Pharmacia & Upjohn has said 
only that it is "refocusing" its research endeavors, but will 
retain its stock ownership in Biopure, which plans to continue its 
clinical trials.

David S. Stodolsky      PGP KeyID: B830DF31      
     Tel.: +45 38 33 03 30     Fax: +45 38 33 88 80


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