OrbiMed Managing Partner Samuel Isaly was unhappy with the board's approval of the Orapred acquisition.

FORBES

BioMarin has since settled with OrbiMed, agreeing to two of OrbiMed's three board candidates.

FORBES: BioMarin Follows Genzyme's Playbook

Major institutional shareholders include OrbiMed, with 12.1% after the IPO.

FORBES: IPO Watch: Workday, Real Estate And Double Chins

Then in early 2005, one of BioMarin's largest shareholders, health care-focused money management fund OrbiMed Advisors, launched a proxy battle in which it requested three new board members.

FORBES

Another example he gives: When Pharmacopeia (nasdaq: PCOP - news - people ), a biotechnology company, tried to buy EOS , a privately held firm, Orbimed Advisors, Pharmacopeia's biggest shareholder, launched a vocal critique that sunk the deal.

FORBES: ICN Shareholders Win. Now What?