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

To: Michael Young who wrote (957)	2/15/1999 8:48:00 PM
From: RRICH4	Respond to of 1029

Recent analyst comments Warburg Dillion Read, 2/8/99: EYES ARE ON REBETRON: Early last week, we pointed out that Rebetron was moving like gangbusters and that we were more confident of our forecasts while investors, many who we suspect had been biding their time waiting for more evidence that Rebetron was real and less evidence that Eastern Europe was reeling, bid up ICN shares to above $27 for the first time in six months. So mow we ask the question: have Rebetron's prospects changed over the weekend? And if there were no positive expectations from Yugoslavia, should ICN's multiple (with less exposure to Eastern Europe) be falling or rising going forward? We think the answers appear obvious. We think investors should look towards where tomorrow's earnings will likely come from and we reiterate our Buy rating.