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

To: Icebrg who wrote (1522)	2/5/2002 11:55:21 AM
From: arnie h	Respond to of 10345

Ice - Nice piece of research on the Epils. Thanks for posting. Looks like $350M comes due for Epil in 2002 and $450M in 2004 for Epil II. I seem to recall them saying these were covered by their inherent assets; perhaps that was more the issue than being surprised. I did wonder what equity and debt instruments were in them. Arnie

To: Icebrg who wrote (1522)	2/6/2002 12:07:26 AM
From: Madharry	Read Replies (1) \| Respond to of 10345

TY. I admit it . I never read the annual report. Then again I have never owned the stock. Certainly an analyst would be expected to know this information. I also was not aware of the option of a company having a controlling interest in a non consolidated sub. I wonder what rationale there could be for such an exception. especially where the debt is guaranteed by the parent. I still don't see what is good about a company that seemingly used every accounting subterfuge in the book to reduce debt and increase revenues that other companies would account for as an expense and now has got its hand caught in the cookie jar. How can one even begin to quantify earnings in this kind of setting? I cans see why ML used revenue target to estimate markt cap.