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Biotech / Medical : ChiRex (CHRX)

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To: yosi s who wrote (95)	1/22/1998 1:10:00 AM
From: m meixlER	Read Replies (1) of 130

dont have a # for the playback--the book at 92m shows what chirex paid minus depreciation--acc w the analyistat first bost the market value of the 2 manuf facilities is approx 220 million (there is no way for me to confim that--it sounds reasonable though looking at the sizes== i dont think you can compare chirex to sepr as sepr is a biotech and chirex is more of a high tech contract pharmacutical manufacturer--I dont think there are many public comparibles for this co to compare to ( if any)----i do think the upside is huge though--we are in the first inning of the big drug co's efforts to outsource production--i think chirex is well positioned and once they have there manufacturing production probs solved there will be huge upsides to earnings in about 18 months---At this point--though in regards to the investment comm---the co promised on delivering big eps quicker and the mkt is disapointed--they didnt see the production snafus. If you look at price to 98 proj rev and eps as well as book --i think the stock is dirt cheap for this kind of potentail--

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