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Biotech / Medical : Trinity Biotech (TRIBY) -- Ignore unavailable to you. Want to Upgrade?

To: Charles Broderick who wrote (11272)	12/9/1998 6:58:00 AM
From: dowman	Respond to of 14328

Regarding Irish tax rates and the effect on valuation.... Elan, a NYSE listed company may be the fastest growing "larger" public drug company. Sales should approach $600 million this year and the growth rate has been very high compounding around 25%. Compare this growth rate with the average growth rates for the huge drug companies ( PFE, MRK, etc.) of the mid to high teens. For this superior growth rate Elan trades at p/e parity to this growth rate while the slower growing companies trade at 2 and 3 times their growth rates. One of the reasons the US market has always given this fine company a lower valuation is the Irish domiciled Elan pays Irish tax rates...and the market will adjust for a "full rate"...And the same thing will apply to any Irish headquarted US listed company, including Trinity. This is a fact shown by the markets....