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Biotech / Medical : Medeva PLC

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To: Dayuhan who wrote ()	5/15/1998 10:29:00 AM
From: Mr Bond	Read Replies (1) of 9

I got into Medeva at 230p a few months ago when a flurry of newspaper articles thought it was undervalued (the Times was one). Small stocks sometimes rise on these articles (short-term usually) but Medeva headed south in a hurry. It has disappointed investors frequently in the past, and suffers from being tarred with the same brush as British Biotech, Biocompatibles etc which have burnt many people's fingers big time. UK biotech sector valuations are very volatile, and as there are so few players relative to the States (where biotechs are more sensibly valued) any bad news like British Biotech's recent press tends top depress other stocks. I think Medeva is cheap but may not pick up again until some good news comes along for some of its peers.

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