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

To: Icebrg who wrote (1466)	2/1/2002 6:34:46 PM
From: William Partmann	Read Replies (2) \| Respond to of 10345

I have not be happy at all by Elan's PR. This accounting issue has been simmering for over a year. Elan did little to dispel it. Finally when all hell breaks loose, they will unveil the books so to speak. They need to enter the modern whole. Bill

To: Icebrg who wrote (1466)	2/2/2002 9:09:19 AM
From: arnie h	Respond to of 10345

Ice: Well said. The more I read the WSJ article, the more I wonder why the Editors allowed that to be published. It starts with "Some pharmaceutical companies are known for their research excellence, others for their marketing... . Ireland's Elan Corp ... stands out for its accounting". The non technical reader would read this as saying Elan's science is 3rd rate. In point of fact, Elan's science is world class as anyone who reads and understands the literature knows. I frankly don't think any pharmaceutical, biotech, genetic, medical, University or Gov't researcher would take exception to Elan having a preeminent position in their areas of expertise. Yet, the WSJ allows that negative impression to be published. Talk about things being opaque, the WSJ seems to be right up there. Have a good weekend. Monday should be most interesting. Arnie

To: Icebrg who wrote (1466)	2/4/2002 4:18:06 PM
From: Madharry	Read Replies (1) \| Respond to of 10345

I find it difficult to understand their response in the context of them now disclosing sketchy information on special purpose subsidiaries whose debt they guaranty off the balance sheet. Do you happen to have full information on these subsidiaries- assets liabilities extent of guarantees? I am trying to figure out what would be a fair price to pay for the shares under this accounting cloud. For them to forcast earnings after the way they have represented their accounting shows that they have no clue .