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

To: scaram(o)uche who wrote (1945)	3/26/2002 6:52:42 PM
From: Robohogs	Respond to of 10345

Still investment grade.

To: scaram(o)uche who wrote (1945)	3/26/2002 7:48:38 PM
From: arnie h	Respond to of 10345

S&P credit cut and rationale doesn't seem too onerous. All that has been going on could have the positive effect of adding more discipline and focus to ELN's decisions. They were probably moving in this direction anyway as they have a lot on their plate as it is. They really muffed the ball on the Ziconotide program having now to do a new clinical study after an approvable letter 2 years ago. And the marketing partner for Frova, promised in 4Q01, is still over the horizon. I wouldn't be all that upset if they didn't plunge money into buying new sales just for the sake of getting more revenues. Unless they can come up with some especially appealing deals, I'd just as soon they make some real progress on existing challenges.