Epstein Secrets

t be reprinted, sold or redistributed without the written consent of Morgan Stanley. 13 EFTA00598634 Morgan Stanley MORGAN STANLEY RESEARCH The Americas 1585 Broadway New York. NY 10036-8293 United States Tel: +1 (1) 212 761 4000 Europe 20 Bank Street. Canary Wharf London E14 4AD United Kingdo

s from Akebia Therapeutics Inc, Alexion Pharmaceuticals. Alnylam Pharmaceuticals, AMAG Pharmaceuticals. Inc., Amgen. Inc., Auxilium Pharmaceuticals, Biogen Idec Inc. Celgene Corp, Chimerix Inc. Cubist Pharmaceuticals Inc.. Gilead Sciences Inc.. GW Pharmaceuticals PLC. ImmunoGen Inc.. Incyte Corporation

t be reprinted, sold or redistributed without the written consent of Morgan Stanley. 12 EFTA00598618 Morgan Stanley MORGAN STANLEY RESEARCH The Americas 1585 Broadway New York. NY 10036-8293 United States Tel: +1 (1) 212 761 4000 Europe 20 Bank Street. Canary Wharf London E14 4AD United Kingdo

cl. Alzheimer's (2H14), Tysabri in SPMS (mid-2015), STX-100, Neublastin and Lupus. Guidance points to strong underlying growth for blz and stock — Biogen remains a top pick: Even without the AIFA benefit, guidance still incr. by -$1.30 or 11%. We've raised our 2014E/2015E EPS to $13.00/$16.28 from $

s Shareholders under the CFC rules, and (ii) will be subject to the Section 1248 recharacterization rule described above. In addition, if the Fund is a United States Shareholder of a CFC and a U.S. Partner disposes of its Limited Partner Interest, that Partner generally will recognize income under Section 751 of t

number of private investments. These have included Cerexa (NLV-I, exited in sale to Forest Labs, 5.4x multiple), Stromedix (NLV-I, exited in sale to Biogen Idec, 1.8x multiple plus milestones), Chimerix (NLV-IL, IPO - April, 2013, NASDAQ: CMRxX), and Auxilium (Sprout IX, NASDAQ: AUXL, exited at 4.6x). e