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Biotech / Medical : IVAX Insider Trading -- Ignore unavailable to you. Want to Upgrade?

To: flickerful who wrote (524)	2/16/1998 1:53:00 AM
From: Rainier	Read Replies (1) \| Respond to of 756

Flickerful, Jackson, and Fellow "Lurkers", I'm also interested in the timing of the earnings announcement. I agree making it at the start of a three day weekend is odd (yet somehow familiar...) -- surely they don't think people will a)not notice or b)forget about it over the weekend?! But I think it's even stranger that they've announced earnings so early -- especially when they're worse than expected. After perusing the Edgar database a few weeks ago in hopes of determining when the earnings would be released, I noticed Ivax waits until the 12th hour to submit its 10Qs and 10Ks. In fact, the last two 10Ks were submitted on 31 Mar and 1 Apr. News releases often precede the actual filings, but I've never seen a 1 1/2 month delay. Does this suggest anything -- other than that the accounting is much easier now that they've shed so many divisions? I also think it's strange that Bethune didn't guide expectations for 4Q lower when he met with analysts just a few weeks ago. As I recall, they did pre-warn 3Q when it was worse than expected. I don't think the presentation was part of a pump and dump -- at least not for Frost, who has sold NONE of his shares since taking over Ivax (and who cares about the token 500 or so Bethune bought in Nov?) My guess is they've swallowed (and just about choked on) the last of these "one time charges" and are trying to flush 1997 down the toilet as fast as possible. That way, it will be ancient history when we see 1Q 98 figures in mid-May.

To: flickerful who wrote (524)	2/17/1998 9:08:00 AM
From: 5,17,37,5,101,...	Read Replies (1) \| Respond to of 756

Yes, the Friday bodkin. Well there is something a little different about this news though that may reveal a silver lining: It was not preceded by a phony "hook" story, such as an asset sale, or cost saving restructuring, or a minor generic approval. I have been disappointed with the number of approvals so far this year. But with eight pending we should hear something soon. If Ivax tanks this week and then announces approval of a major generic next week, IMHO we will see $9.00 shortly thereafter. Jackson