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Biotech / Medical : Elan Corporation, plc (ELN)
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To: William Partmann who wrote (1471)2/3/2002 9:45:27 AM
From: arnie h  Read Replies (2) of 10345
 
Bill, no disagreement from me these are not mutually exclusive. The company could have done more a year or more ago to dispel last week's 'fiasco' and should have. Also, I think they were wise to stop forming JV's. At some point, the more - isn't the merrier. They no doubt reached that point and need to focus on what's on their plate now.

At the same time, I have been wondering why the WSJ would publish what they did. I asked my wife, an ex-school teacher what she read into "Some pharmaceutical companies are known for their research excellence, others for their marketing... . Ireland's Elan Corp ... stands out for its accounting". She said - "Elan is only good at juggling numbers". In my view, that is how anyone who doesn't know an antibody from an antigen would respond to that opener.
And the rest of the article was so unbalanced that most readers would conclude Elan is a fly-by-night outfit rather than the world class scientific company it is.

I hadn't realized the author had written on this same
issue for another outfit.This only further raises the question of why the editors of the WSJ would allow an article that misleads on the nature of the company to be published. To raise circulation? To cry 'fire' in a crowded movie? To lower their journalistic standards? None of these make sense. Perhaps the best that can be said is the editors were 'asleep at the switch'. I presume this is the defense we'll hear from Mr. Lay tomorrow. It won't fly in his case.

Have a good day and enjoy the Super Bowl if you are into that sort of entertainment.
Arnie
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