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

To: All Mtn Ski who wrote (688)	11/17/1999 11:39:00 PM
From: blankmind	Respond to of 10345

Drug's Patent Extension Falters WASHINGTON (AP) -- The Senate Judiciary Committee on Wednesday indefinitely postponed consideration of a bill to extend the patent for Claritin, the nation's best-selling allergy prescription medication. Panel members, including sponsoring Sen. Robert Torricelli, D-N.J., said the end-of-year rush to adjourn muddied the debate. But criticism from fellow Democrats over whether the bill would help or hurt consumers also stalled the matter. Just last week, Vice President Al Gore criticized the high price of prescription drugs and proposed measures to get lower-priced generic versions onto the market more quickly. Torricelli's Democratic colleagues on the panel, Sens. Charles Schumer of New York and Patrick Leahy of Vermont, have said his bill would cost consumers more. The price of Claritin is so high -- up to $2.66 per daily tablet -- that some health insurance companies no longer pay for it. The drug is manufactured by Schering-Plough Corp. of Madison, N.J. Its patent expires in 2002. Torricelli's bill would let Schering-Plough petition the U.S. Patent and Trademark Office for three years of additional patent protection on grounds that the Food and Drug Administration took an excessively long time to approve its use. The bill would also allow three-year extensions of the 20-year patents on seven other drugs made by American and European companies.

To: All Mtn Ski who wrote (688)	11/18/1999 9:22:00 AM
From: RMP	Read Replies (1) \| Respond to of 10345

I believe the strike price (if you allow the analogy to calls) is 37.50 or thereabouts. That of course was prior to the the two-for-one split. Therefore whatever the warrant is selling for plus 37.50 will entitle the warrant owner to two shares of common stock. The price of the warrant should therefore move up in a two-to-one ratio with the price of the common stock. Therefore one is able to leverage more shares by purchasing the warrants. In addition, when it comes to exercising the warrants, you won't necessarily have to convert all warrants into stock, as the warrants can be traded as shares of stock. If you believe in the long term future of Elan as I do, then the warrants make the most sense to control the most number of shares at this time. RMP