Novartis Message Board - Msg: 3858255

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Biotech / Medical : Novartis

NVS 125.04

+0.9%

Nov 4 3:59 PM EST

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To: Tom Wilkes who wrote (185)	3/27/1998 7:10:00 AM
From: Chuck. Edwards	Read Replies (1) of 296

Yeah, Tom, Hanson was a bummer. And Hoechst itself shows that the payoff for major restructurings can take a long time. Hoechst bought Marrion Merrill Dow a couple-three years ago and combined it with Roussell and its own drug division, to create the new Hoechst-Marrion-Roussell. The synergies have yet to appear, and if you were a Marrion stockholder and decided to hold Hoechst stock instead of selling, you would be an unhappy camper today. However, I took a modest position (really modest - 80 shares) in Hoechst because it is evolving into a drug company and drug companies NEVER go bust (so the downside seems limited), there is a catalyst for change (in the form of the dynamic new CEO), and it is a play on the European integration (which I think will lead to an explosion in European economies). But Hoechst is sure no Novartis. By the way, my apologies to fellow thread-followers for the off-topic discussion. Cheers Chuck Edwards

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