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Biotech / Medical : Biochem Pharma (BCHE)
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To: Syncrude who wrote (623)4/30/1999 4:11:00 PM
From: Todd D. Wiener   of 783
 
I'm still unclear as to the purpose of the CCHE spinoff. It would have been nice if CCHE could incur most of the development costs, while BCHE's margins would improve due to lower costs. But I'm not sure I understand what management's goal was. In fact, BCHE management seems to be rather creative when it comes to their accounting (CCHE spinoff, discontinuing the diagnostics business, etc.).

I think they suffer from a lack of credibility on Wall Street.

Todd
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