Elan Corporation, plc (ELN) Message Board

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Biotech / Medical : Elan Corporation, plc (ELN)

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To: Icebrg who wrote (3458)	10/31/2002 9:01:05 AM
From: biostruggle	Read Replies (1) of 10345

Well Elan survive as an independent company? If Armen can maintain 400 ml revenue and get an additional 2 billion on remaining asset sales, then Elan can pay down all debt (cv bonds+QSPE + prod payments) and cover cash burn (200 million/yr) til antegren comes out end of 2005. If Elan comes up with less, then it has to role over cv debt with cash +stock. How much cash = how much less than 2 bill realized. No antegren, no company. Realistically. Elan will raise enough cash to cover CV bonds and put the company up for sale. How much Elan will get for antegren potential + alz potential - remaining debt (QSPE 850+ 650) is open question. Other risk factors. SEC comes down on Elan and sets up torts to finish off the company. Geaney has taken good company and in 1.5 years of financial engineering drove it into the ground.

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