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Biotech / Medical : Biotech Valuation

CRSP 48.78

+6.3%

Feb 6 3:59 PM EST

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To: Ian@SI who wrote (16604)	4/23/2005 3:29:36 AM
From: Icebrg	Read Replies (1) of 52153

Ian If they don't have the cash, they can always borrow the amounts needed (in local currency) to enable the repatriation. Note, that what they want to do here is not to bring home cash surpluses held abroad, but to repatriate accumulated foreign earnings. These earnings may well have been invested in more things than current assets. The unremitted earnings of international subsidiaries amounted to 51,5 billion USD according to the 10-K. Erik

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