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Biotech / Medical : Eye Laser Industry - VISX and Summit BEAM Info
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To: Daryl Gresham who wrote (27)8/28/1996 7:42:00 PM
From: A.J. Mullen   of 178
 
I own neither now and I hope all here will forgive me for saying, as a prospective investor, I'm delighted by the declines in both VISX and BEAM. With good eyesight myself, I can only speculate what a pain lenses are. But is the decline too "good" or am I missing something?

If the lawsuits were all due to disgruntled investors who had lost money, I would not worry much. They seem to be just another hazard for small new-tech companies. There seems to be more though, if one company is suing another. Is patent infringement the allegation?

What's the story with Summit's management? I see references to "the problem", but nothing concrete.

I understand that Summit is trying to circumvent a perceived reluctance on the part of the opthalmic industry. I can see that opthamologists would not like this technology, but doesn't the system (VISX or Summit's) have to be operated by an opthalmic surgeon? They don't sell lenses do they?

If there is indeed resistance then Summit's strategy will break a cartel, but VISX might reap the benefits. The market must be huge though, so why shouldn't both survive?

Right now BEAM looks v. cheap - relative to the beginning of year anyway. Are its problems really so bad? Oh, and Visx has fallen 40% in the last couple of months, doesn't that also require some explanation? It's more than many other biomedical stocks.
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