Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.72

+1.2%

2:37 PM EST

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To: Todd D. Wiener who wrote (323)	9/16/1998 6:56:00 AM
From: harkenman	Read Replies (1) of 420

P/E ratio of 9???? Market P/E GT 16?? Johnson & Johnson signed a definitive agreement to buy DePuy for $3.5 billion, or $35 a share. Is DePuy in the same business (reconstructive products market) as NOV??? Based on P/E and news fair price should be $12.50 not $7.50. DePuy makes orthopedic devices and supplies used primarily by orthopedic specialists and spinal neurosurgeons to treat patients with bone defects resulting from diseases, deformities, trauma, and sports accidents. The company has a 15% worldwide share of the econstructive products market and holds the #2 position in the US, behind Bristol-Myers Squibb. Its products include hip replacements; knee, shoulder, and spinal implants; fixative products for bone ractures; and knee braces and other soft goods for sports-related injuries. DePuy has made a series of acquisitions designed to expand its product lines. Swiss pharmaceutical magnate Roche Holding owns 84% of the company; Johnson & Johnson is buying DePuy. interactive.wsj.com

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