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Biotech / Medical : Biotech Valuation

CRSP 56.98

+1.1%

Nov 5 3:59 PM EST

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To: Biomaven who wrote (3323)	4/3/2001 5:11:11 PM
From: Jibacoa	Read Replies (1) of 52153

NOVN's drop yesterday apparently was on the news of the results of a preliminary analysis of Phase III clinical study data for its transdermal methylphenidate system, which suggested that a supplemental clinical study will be required to support the filing of a New Drug Application (NDA). It rallied yesterday from the 16 3/4 level and also earlier today, but it was held unchanged at 19. I am aware that they have positive earnings and those were better in the last reported Q, the PE at 23 is not that high by "recent standards" and their HRT and deal with Novartis also look good, but do they have any potentially "block-buster" product on their pipe line? Bernard

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