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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (33382)	1/31/2009 1:08:41 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78702

SNY SNY - I still don't like its low ROE. Or looking from another point of view, they have low ROE due to ridiculous balance sheet with 70 billion intangibles and negative tangible assets. Spekulatius I think considers my reservations about SNY unfounded though. :) I guess you wrote this to provoke a reply :-). Here you are - the goodwill originates from the Sanofi/Hoechst merger that build this company. I do think this merger allowed the combined entity to be stronger than the individual companies preceded it, so I would just ignore the goodwill as an accounting artifact. I don't own SNY or any other pharma at this point but i think SNY would be on the top of my list based on valuation.