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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: E.J. Neitz Jr who wrote (598)	11/5/1999 12:41:00 PM
From: Gary Korn	Respond to of 10345

From the YHOO board: Reason for weakness by: FELTEMP 11/5/1999 12:16 pm EST Msg: 3606 of 3610 The reason for today's weakness is a report out of BearStearns by the fear mongering David Maris - one of the all time idiots on Wall Steet. One of Bear Stearns accounting experts was talking about an accounting review panel that is exploring quality of earnings issues - such as accounting for R&D limited partnerships and licensing fees from small biotech companies in which Elan has invested. These issues have already been dealt with ad nauseum, but this dufus Maris just wants to scare people again. Elan will buy back its partnerships at year end, and replace these revenues with R&D contracts from major drug companies. The licensing fees are something that even I agree are problematic, but Elan's management is fully aware of Wall Street's concerns, and will be doing far fewer of these going forward. In 2000, Elan's E.P.S. will be of higher quality than in 1999. If you take out the so-called funny money, the company will still earn $1.25-$1.30, vs. a current price of $22.50. In the end, analysts like Andrew Foreman, Ken Kulju, and David Maris will look like the idiotic congenital morons they truly are. How anybody ever hired them I'll never know.