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Biotech / Medical : Biotech Valuation

CRSP 53.80

+2.6%

Jan 2 9:30 AM EST

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To: Biomaven who started this subject	8/15/2001 5:31:05 PM
From: IRWIN JAMES FRANKEL	of 52153

Thestreet.com strikes again - ICN: Herb Greenberg reporting the following re ICN: "ICN's stock has come under pressure on rumblings that it is may soon get generic competition for its Ribavirin antiviral drug -- a BIG contributor to royalty income vis marketer Shering- Plough. News of the generic application isn't yet on the FDA's website. Bulls are likely to counter that there are plenty of patent hurdles to be cleared; still, anytime an important drug gets generic competition it gives investors in drug companies break out in hives! hg" ICN may make an interesting short. Ribavirin royalties account for more than 100% of their net income. It's composition of matter patent in the US has expired. BRL also indicated in a recent CC that they have another challenge that is pending. Could it be on ribavirin? I don't know but with the news today the risk reward ratio looks like it is with the shorts. ij

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