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Biotech / Medical : ChiRex (CHRX)
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To: Ridemhigher who wrote (49)7/8/1997 12:26:00 PM
From: Nagaraju R. Arakotaram   of 130
 
John Tornatore:

Currently at 15 3/8 - 15 3/4 with more than 1+M shares already.

I noticed big blocks of 60,000 crossing.

Here is the details from yesterday.

7/7/97 1:39 pm... CHIREX (CHRX 13-3/4) UP 2-1/8, AGREES TO ACQUIRE GLX'S PHARMA
FACILITY IN SCOTLAND... CHRX TO RECEIVE 5-YEAR CONTRACT FROM GLX FOR UP TO
$450M... FIRST BOSTON UPGRADES TO STRONG BUY FROM BUY... Analyst David
Begleiter says acquisition of GLX's production facility major positive... Says
price attractive, will be neutral to '98 EPS, accretive to '99... Says deal
will provide enhanced visibility, validation of management's strategy,
projected financial improvement... Also notes 5-year supply contract with GLX
will ensure major revenue stream into next decade.... Raises $1.65 '99 EPS
estimate to $1.75... Raises $16 price target to $20.

thx
Raj
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