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Biotech / Medical : Elan Corporation, plc (ELN)
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To: William Partmann who started this subject4/10/2004 12:53:24 PM
From: Sidney Street  Read Replies (1) of 10345
 
From Alan Abelson's Barron's column today, recommendation of Larry Feinberg of Oracle, a health care - bio hedge fund, of Biogen - Idec based on projected Antegren earnings. Recall from earlier discussions, shares outstanding are about the same for Elan, so earnings contribution estimate is roughly the same:

"What has him breathing heavily about Biogen Idec is the potential for Antegren, one of its new formulations, as a treatment for multiple sclerosis. He thinks it's pretty much a cinch that the company will file for FDA approval this summer and its also pretty much a cinch that the FDA will say OK.

The potential market is vast, and Larry feels that Biogen's entry is twice as effective as drugs now being used. Hence, he's confident it'll snare a big chunk of that market and, a few years out, maybe add as much as $2 a share to Biogen's earnings."

(He also suggested shorting Serono because it would get croaked by Antegren)
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