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Biotech / Medical : ICN Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Robert Florin who wrote (788)	3/26/1998 5:51:00 PM
From: Carl Wysocki	Read Replies (1) \| Respond to of 1029

To add a few thoughts to the takeover speculation... While I doubt there is anything on the immediate horizon, I'm of the opinion that ultimately ICN has to sell out in order to achieve its growth potential. While they are taking advantage of small opportunities here and there, I'm sure there are many they have to pass up, because they don't have the financing capacity (they always seem to sell converts, call them in, then sell more), nor do they have an inflated stock price in an industry where inflated stock is the preferred currency. I'm not certain they can remain a small fry for long, although they seem to have staked out a specific, highly defensible position in the WW market (for now). With all the acquisitions and capital requirements they have, I wish they would get rid of that damned dividend. Long term, I just can't see them remaining independent. But, then again, I suppose they could form strong alliances to take advantage of their distribution channels, and get a big wad of cash for that access. Carl