Club Biomed &endash; Meeting Minutes &endash; 16
- Welcome and monthly contribution collections
- Carlos D. gave a brief Treasurer's Report &endash; we have
collected about $8282.74
- He also reported on the number of votes allocated to various
members. Some members were surprised to find that they had not
yet made enough contributions to vote on buy and sell decisions,
but those who have made a contribution at each meeting will be
able to vote next month.
- John reported on the status of our benchmark and model
- Virtual Portfolio: down 3%
- Random Portfolio: down 6.9%
- ANPI; CYAN; GLGC; VRTX
- Mutual Fund Portfolio: down 6.82%
- We picked Johnson & Johnson (JNJ) and Cell Therapeutic
for Random Walk
- Stock presentations: The big Cap cluster, which
includes Derek, Johanna and Gianina presented Pfizer
- Ratings given by the group were:
- Financial 1.5
- Product Existing 1
- Product Potential 1
- Leadership 1.5
- Science Quality 1.5
- Overall 1.3
- On the basis of what they felt was a strong pipeline and solid
financials and a reasonable price, they recommended a purchase of
100 shares (about $3200 dollars).
- A second motion to delay the purchase of the stock for one
month so that additional consideration could be given to the
proposed purchase of Pharmacia was made.
- After considerable discussion the motion to purchase Pfizer
was passed and the motion to delay the purchase was not passed.
- Steve Gross volunteered to follow Pfizer and to make
presentations to the group about the soundness of the company from
time to time. He is Club Biomed's first Stockwatcher.
- New business. Several partners felt that the decision
to purchase a stock should not be made unless a written evaluation
has been submitted to the partners at a reasonable time period
before the meeting so that they would have time to independently
research the stock. It was agreed that this policy should be
considered at the next meeting and Joel agreed to provide language
to phrase the issue and to provide a suggested policy.
- The presiding partner, John, noted that this was the intention
of the form he had created and presented at the last meeting. He
asked that a form be completed both for Imclone and Pfizer so that
they could be posted. (Although some partners had had difficulty
finding the form on the web site, subsequent to the meeting John
opened the site and downloaded the form with ease).
- Joel asked that the group research the impact of the Pharmacia
acquisition, the Big Cap cluster agreed to present that at the
Agenda items for November include:
- Appointment of audit committee
- Report on the Pharmacia purchase by Pfizer
- Presentation from the Generics Cluster
- Possible presentations from Big Biotech and
- Possible presentations on Regeneron or Cephalon (by Neil and
Graciously submitted by John Wagner and Omar Vandal.