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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: kumqwatt who wrote (28659)	6/4/2002 3:34:56 PM
From: Ken W	Respond to of 29382

Kumqwatt DRAX: I rec. that news release as well as this one..just an exerpt of the second one. Under the modified agreement, Elan will acquire Canadian product rights for Zanaflex®, Diastat®, Mysoline®, Permax®, Eldepryl®, Novo-Selegiline, Ziconotide, MYOBLOC(TM), Frovatriptan, Levulan Kerastick®, Zelapar(TM) and Zonegran(TM). The transaction will now exclude the Canadian rights to Alertec® in addition to Hectorol(TM) and paclitaxel. DRAXIS will receive a cash payment of US$9 million upon closing along with a participating interest based on Canadian sales of two products included in the transaction. In addition, Elan will assume certain liabilities associated with Draxis Pharmaceutica. Mixed bag of events in my view..on the onset the market (who ever that is) does not like the dilution of the offering. They are issuing 5MM but 3MM will hit the market, raising the total outstanding to about 40MM. Have to wait and see how it all shakes out. I'm not going to knee jerk the stock. Ken