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Biotech / Medical : ICN Pharmaceuticals
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To: Clouseau who wrote (2)5/26/1996 7:35:00 PM
From: PuddleGlum  Read Replies (1) of 1029
 
Yes, I saw the Prozac announcement and the Kazakhstan announcement. As I have learned, though, these events take much time to reach the bottom line. If a takeover occurs it will most likely be through Schering-Plough, since they have the option of purchasing up to $40+ million of ICN stock based on progress with Virazole. That works out to some 5% of the whole company at current prices. If the company traded at industry P/E multiples they'd be around $45 per share right now, and that number should rise at a rate more rapidly than the typical pharmaceutical company. My biggest complaint about the company is their credibility gap. I was really ticked last year when I found out that they kept the FDA denial secret for about 3 months.
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