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Biotech / Medical : Elan Corporation, plc (ELN)

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To: William Partmann who started this subject11/9/2001 12:21:30 PM
From: William Partmann   of 10345
 
Merrill has come out with two reports in defense of the stock this morning.

1. Merrill expect Elan will announce a co-promo partner soon. They said a few weeks, I bet it will be before end of month, maybe early December. I would expect that they have been in discussion with the partner for the last six months and the what was holding up the final agreement was the FDA label. Can't negotiate price if you don't know the label.

2. Regarding Skelaxin, Merrill believes no competition before 03. Further they opine that Elan is developing a defense as most Pharma companies do.

3. Merrill believes the stock is at a 32% discount to the S&P and project 25% growth.

Bill
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