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Biotech / Medical : IVAX Insider Trading

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To: jcashin who wrote (161)	11/6/1997 10:00:00 PM
From: 5,17,37,5,101,...	Read Replies (1) of 756

Your skepticism is abundantly appropriate and expected and does not surpass my own. Yet one must keep one's eye on the target. It is true that Cohen's buy rating is meaningless and should be entirely disregarded. If you read prior posts you'll see my reasoning for being long at this price: a) substantial insider buys at $13 - $15 with some follow up buying at 10. In a world of imperfect information, this is not to be ignored. Ivax is most likely fairly valued somewhere around $13 - $14/share; b) a paxene approval is most likely imminent, and is following on the heels of asset divestitures and cost/debt reductions; c) Frost is not likely to watch Ivax fall apart completely. He will salvage what he can by selling if he has to as he did with Key Pharmaceuticals during the 1980's. d) the slide in generic drug prices has ceased and may be rising (see recent news articles and the price of MYL stock). Barring a market meltdown, Ivax should do fairly well from here. I'm not trying to convince you to buy, only, well ... I don't know what I'm doing. Jackson

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