Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who started this subject	3/28/2003 10:16:54 AM
From: torquatus	of 18998

I don't want to be singularly focused on American Pharmaceutical Partners (APPX:Nasdaq - news - commentary - research - analysis), but when you find something this intriguing, you have to share it. A close read of the 10-K, filed with the Securities and Exchange Commission this week, reveals an interesting tidbit: From the end of 2002 through March 19, American Pharmaceutical bought back just over 1 million shares of its common stock for $20 million. Related Stories The Devil May Be in the Details for Fuzeon Why is American Pharmaceutical spending $20 million to buy back its own shares now, especially when this eats up half of its remaining cash? (The company ended 2002 with $39.7 million in its bank account.)

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