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Biotech / Medical : Paracelsian Inc (PRLN)
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To: John H. Farro who wrote (3076)8/14/1997 5:52:00 AM
From: John H. Farro   of 4342
 
Hank, I was just reviewing the 1996 Annual Report. Page 37 states that the when the company acquired Pacific Liasons they obtained the right to obtain 5000 to 10,000 Chinese herbal extracts. PRLN has finished screening the 2800 extracts they have acquired in their library. Theoretically, they should be able to obtain 2200 to 7800 new extracts to screen from China. However, Colin Campbell was their point man in China. He was the one who negotiated the deal. Does PRLN now have someone new to deal with the Chinese? I think the Chinese hold Campbell in high regard. Will they view a replacement in the same way? Will they continue to deal with PRLN? Has PRLN's pipeline for new extracts to screen dried up? Of course, this may be an academic question if PRLN doesn't have the money to pay for new extracts. They have more important priorities. Like paying lawyer's fees.

Robin

BTW, Hank, I'm not saying that I am certain PRLN is doomed, but I am not buying any more stock after attending the meeting. Read into that what you want.
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