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

To: Qualified Opinion who wrote (1667)	2/13/2002 5:50:38 PM
From: Robohogs	Read Replies (1) \| Respond to of 10345

If one ignores capex and also ignores any costs to handle SPEs and cost to buy revenue, I don't disagree. Typically, market would look at first item and not later, which probably would put ELN at $400 MM (vs. $500 MM). IMHO I was just trying to point this downgrade out from the agencies' point of view. The cash-generating ability of this company is less than it was before. Full stop. No one can argue this. But, and this is important, this is no Enron. Jon