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Biotech / Medical : Biotech failure, 2002 -- Ignore unavailable to you. Want to Upgrade?

To: Miljenko Zuanic who wrote (17)	2/4/2002 6:35:09 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 130

Enron spill ower, or problems with revenue growth? Monday February 4, 8:20 am Eastern Time Elan plunges after revenue warning DUBLIN, Feb 4 (Reuters) - Shares in Irish-based drugs group Elan Corp (quote from Yahoo! UK & Ireland: ELN.L)(NYSE:ELN - news) plunged on Monday after it warned of slower than expected revenue growth in 2002. Elan shares dropped 17.65 percent to 28.0 euro in Dublin in the wake of the company's fourth quarter results, which showed earnings per share of $0.56 -- in line with consensus -- but were accompanied by worrying comments on outlook. The company said it expected earnings for 2002 to be ``affected by slower than anticipated growth in total revenue'' due to a number of factors including the later introduction of new products, and its product rationalisation programme. <snip> and 1:08PM Cephalon defended by SG Cowen (CEPH) 55.90 -8.72: -- Update -- SG Cowen says it would be a buyer of the name amid sell-off related to accounting concerns. Firm believes that investors are making too much of joint venture formed to market Provigil and Gabitril in the U.S. Believes that should questions concerning the venture continue tohit stock, mgmt will consider exercising option to buy it back. Notes that money flowing though the joint venture is a small part of CEPH's total SG&A. Firm anticipates no change to its estimates should CEPH decide to repurchase the joint venture.