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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: DM who wrote (7481)	2/5/2000 11:42:00 AM
From: wolfdog2	Read Replies (1) \| Respond to of 19374

DM I hope you don't mind my responding to your question. Actually, I'm not going to answer you question directly, since I can't tell you whether to buy CORR or not. However, here are some thoughts that you might want to take into account. Centocor which makes Repro, the competitor to CORR's Integrelin, was taken out for $4.7 billion last year by J & J. Corr has a market cap of just over $1 billion. The market for both Repro and CORR is growing very rapidly. Integrelin sells for about 1/3 the cost of Repro, which means that Integrelin has a good shot of unseating Repro as the main drug used in angioplasty. Merck also has a competing drug, but I believe that Integrelin is approved for the broadest use of any of the three drugs. CORR has yet to turn a profit, whereas CNTO was pulling in over $4 a share at the time it was acquired. CORR is therefore, at an earlier stage and a discounted cash flow analysis needs to be applied. Nonetheless, it looks to me as though CORR should be able to double over the next 12 months from its Friday close of just over $40. Of course, this assumes that Integrelin sales will continue to ramp at a good clip. In this regard it should be remembered that the stock was knocked down recently when CORR reported lower than expected sales of Integrelin in Q4.