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Biotech / Medical : ICN Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Clouseau who wrote (970)	8/11/1999 2:58:00 PM
From: Robert Florin	Read Replies (2) \| Respond to of 1029

Okay, now that the crash has occurred, what is the impression of the company's prospects. THe Yahoo and Raging Bull bbs are beyond hope. There possibly may not be a relevant or civil comment on them. My take is that the concern re InterferonB PEG is that this is a totally misunderstood application of PEG. It is essentially just a different delivery vehicle and the real difference in treatment for Hep C is the anti-viral effects of Ribavarin with Interferon. This form of Interferon delivery may be an adjuvant for the efficacy of ribavarin, but will not substitute. This just seems misunderstood, unless I am not aware of something that has specifically mitigated against the combined use. Kinerase holds some promise. So at worst the company was into something with the $12mm write down in Hungary, at best it represents an error in reporting the numbers. Meant to be $.44 with a one time write down. The company had lost 15 points on a $.12 difference in profit???? That is a $1.5 billion dollar difference in valuation? Even if we write down the value of the $12mm x a PE of 20 to 1 based on earnings of $1.00 this year, that should only be $240mm, not $1.5 billion. Am I missing something here, or is this totally oversold?