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

To: Clouseau who wrote (974)	8/11/1999 6:18:00 PM
From: Robert Florin	Read Replies (1) \| Respond to of 1029

>Maybe the insiders know of more "challenges" that MP is >unwilling to be forthright about, but they know are >coming. Could be Russia, China, South America, who knows? >Future writeoffs can be revealed even in the face of the >optimism voiced in the cc..."well, we just didnt know this >was gonna happen." Let me poise a naive question, what makes everyone think that this was deceipt? Perhaps the way it was reported was the problem, that he wanted to say operations generated $.44 and we had this writeoff. The assumption is that it was deceipt. I am not saying that MP has a history of honesty, but this seems a matter of interpretation, and how they would report earnings from operations. It is also true that there is some question as to the exact nature of the writeoff. I also know the history of MP and it is not a pretty one. Where, however, is MP's sales of stock? I know the proposition is that it is hidden in foreign transactions but how much of that is supposition and anger. Now here is what it bothersome. How come the stock started to tank 2-3 days before earnings? Clearly someone knew something. The other problem was why did it tank so much? Where the sales from funds that knew of the announcement in advance, where they "big" sellers resulting in a cascade of selling, is there more of the story yet to unfold. I have an uncomfortable feeling that it may be the case because of the stock behavior, OTH, this could all be a frenzy feeding on itself without much substance.