Genetic Engineering News Publishes Annual Listing of 100 ``Molecular Millionaires''

Business Wire, April 4, 2000

Business Editors & Health/Medical Writers

BIOWIRE2K

LARCHMONT, N.Y.--(BW HealthWire)--April 4, 2000

Genetic Engineering News' (GEN) 100 "Molecular Millionaires" own a record $7.23 billion in biotechnology stock this year as compared to previous listings.

The total number of millionaires holding a doctoral degree, 96 out of 100, also set a new record, according to the April 1, 2000 issue of GEN (www.genengnews.com).

"This year's edition of Molecular Millionaires demonstrates vividly that biotechnology has finally fulfilled the predictions of many Wall Street analysts over the past decade," says John Sterling, managing editor of GEN. "Along with businesses involved with the internet and telecommunications, biotechnology is poised to become one of the key industries of the future."

William K. Bowes, Jr., is the top millionaire, with $686,398,793 of stock in Amgen (Nasdaq:AMGN), Lynx Therapeutics (Nasdaq:LYNX) and Xoma (Nasdaq:XOMA). He is followed by Phillip Frost, M.D., with $642,434,166 of Ivax (AMEX:IVX); David M. Goldenberg, M.D., Sc.D., $415,064,144 in Immunomedics (Nasdaq:IMMU); Lindsay A. Rosenwald, M.D., $336,387,890 in Avax (Nasdaq:AVXT), Biocryst (Nasdaq:BCRX), Genta (Nasdaq:GNTA), Interneuron (Nasdaq:IPIC) and Neose (Nasdaq:NTEC); Gordon Binder, $308,447,899 in Amgen (Nasdaq:AMGN); and William A. Haseltine, Ph.D., $284,014,797 in Human Genome Sciences (Nasdaq:HGSI).

Compared to the $7.23 billion of stock owned in 2000, stock holdings in previous years included $1.41 billion in 1999, $1.76 billion in 1998, $1.97 billion in 1997 and $2.05 billion in 1996. The total number of doctoral millionaires was 89 last year, 69 in 1998 and 72 in 1997.

Genetic Engineering News is published 21 times a year by Mary Ann Liebert, Inc. For a copy of the listing of Molecular Millionaires, please see our web page at www.genengnews.com or call 914/834-3100, ext. 623, or email: ebicovny@liebertpub.com.