Elan Corporation, plc (ELN) Message Board

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Biotech / Medical : Elan Corporation, plc (ELN)

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To: Ben Wa who wrote (1427)	1/28/2002 11:07:48 PM
From: Harold Engstrom	Read Replies (1) of 10345

Good article. More transparency is better. Still, Elan has built an enormous pile of cash. It has a very good pipeline. It actually makes stuff and sells it. There is no danger that Elan is going to suddenly wake up without earnings. Its revenues are almost entirely product revenues. They are not subject to arbitrage errors. They do not ship their products to the Grand Caymans or Luxembourg and then receive them back again tax-free. They have significant equity holdings in other companies. Did I mention the $2B in the bank that compliments the $2B in annual revenue? If we are lucky, we will get a few more days of this nonsense. Then, it will move back up to a $14B-$16B market cap. Compare to Biogen. Elan has roughly the same EPS; has more cash; has more diversified product base; makes deals more easily; has more investments; has higher projected growth rate; has greater revenue. Has lower market cap.

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