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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (3332)	6/21/1999 6:24:00 PM
From: IRWIN JAMES FRANKEL	Respond to of 10280

AZA valuation cp SEPR AZA is going for about 12.5 times revenue. If Xopenex did $300 million (all of the nebulized market or 20% of the whole) and it sold for 12.5 times revenue that would be over $100 per share. Who knows maybe some of the rest of the company has some value? <G> ij

To: quidditch who wrote (3332)	6/21/1999 6:35:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 10280

steven, The AZA figure I saw was 1.2 per Abbot share, not 1.6: Under the terms of the agreement, Abbott will acquire all of ALZA's outstanding stock in a stock-for-stock merger transaction intended to be tax-free. ALZA shareholders will receive a fixed exchange ratio of 1.20 shares of Abbott common stock for each share of ALZA. So if this is right, it is about a 20% premium, more if you consider that this was heavily rumored, and so some premium is already in the AZA stock. Peter