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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (233)	8/1/1996 6:24:00 PM
From: davesd	of 132070

Mike, I think your read on Chiron is right on. However in the betaseron market, Chiron had no control of marketing Betaseron. Berlex has the marketing and sales right and Chiron had manufactuing rights. When the drug was approved Chiron spend over $100 million in new manufacturing facilities. Unfortuntely, due to the side affects of Betaseron in never really took off. Chiorn only got about 30% of the potential market because most of the others could not tolerate the side affects. The $100 million manufacturing plant in now sitting idle as are a couple of other plants that CHIR owns. Chiron has been very aggressive in acquiring smaller companies for their technologies, but have not got their act together integrating them. Also, almost every copany that Chiron acquired was not earnings any money. I don't see anything new coming out of Chiron any time soon to change the beating they took today. The merger between CIBA and SANDOZ is already looking bad for Chiron, as Aredia is being pulled away for Chiron and possible cutbacks in research revenues that CIBA hands out to Chiron. Anyways, the sales of Chiron's major drugs were all down the last quarter with little relief in site. I think CHIR has some more correction still to come dave

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