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Biotech / Medical : PRXL - Parexel International -- Ignore unavailable to you. Want to Upgrade?

To: Milk who wrote (52)	6/25/1999 9:14:00 PM
From: George Sepetjian	Read Replies (1) \| Respond to of 62

Getting kicked while down From today's Moneydaily: PHYSICIAN, HEAL THYSELF. So-called CROs--clinical research organizations--were supposed to revolutionize the way clinical trials get done. Better! Faster! Cheaper! screamed Wall Street research reports. Unfortunately, it's not that easy. Running clinical trials on behalf of Big Pharma is a low-margin, people-intensive business, and the stocks of most of the big CROs are languishing well below their hype- driven highs. Today, the second and third largest companies in the industry, Parexel [PRXL] and Covance, called off their merger. Covance [CVD], the healthier of the two, gained 3 1/2 to 25 1/16, while Parexel slid another 23% on top of yesterday's 21% drop. After the bye-bye was public, Covance said it would meet earnings expectations; Parexel said it wouldn't. What a shock.