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

To: Herc who wrote (3595)	8/14/1999 12:48:00 PM
From: IRWIN JAMES FRANKEL	Respond to of 10280

Herc, A price to sales approach to a company whose sales just started is fallacious. If you do not know that, you need to do some work. But just for fun, say SEPR were to carry MRK's P/S ratio. Thus, 75/29 suggests SEPR is worth $2.59. They have three times that much in cash and a huge patent portfolio. Now to your question: "Do you all think SEPR is worth 29 x Merck? " No, on a current P/S ratio, I think SEPR is worth more like 58 x Merck. ij