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Biotech / Medical : ChiRex (CHRX)
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To: Andrew Q. Viet who wrote (66)7/17/1997 5:36:00 AM
From: FIFO_kid2   of 130
 
CNBC did a piece on firms buying the older and smaller product lines of the major pharmaceuticals indicating that they did it for about a very reasonable three times sales and through a more focused management be able to maximize the true value of the product. In the last two years three firms acheived spectacular success utilizing this strategy. Jones Medical: JMED up 700%, Dura Pharm.: DURA up 400%; Medicis: MDRX up 2500%. Recently both CHRX and ICN announced similar deals. In the past few weeks both firms have gone up roughly 75% and 40% respectively. Since this strategy has been extremely successful in the past it will not surprise me if CHRX will trade near 40 in one year (assuming no bear markets).ICN a much larger company probably go up 50% from these levels.
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