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Biotech / Medical : Biochem Pharma (BCHE) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Haugland who wrote (614)	4/30/1999 12:27:00 AM
From: Todd D. Wiener	Read Replies (1) \| Respond to of 783

The short interest isn't that high, but the stock is having trouble breaking through its 200-day MA at $23. Tomorrow should bring some resolution, where it either breaks out, or breaks down and heads toward $20. I don't know why Glaxo doesn't buy BCHE. Amazingly enough, it would be accretive to GLX in most cases. If GLX were to buy BCHE at a 60% premium tomorrow (at $35), it would be slightly accretive to GLX's FY00 EPS. A buyout at $30 would be accretive to GLX's FY99 EPS. Of course, I wouldn't be thrilled with $30, but with the chronic underperformance of this stock, I'd probably accept $35 without much problem. The issue is whether GLX is smart enough to do it. I doubt that they are. Todd