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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (3092)	5/27/1999 11:37:00 PM
From: Bob Swift	Read Replies (1) \| Respond to of 10280

Jeffery, The price given for each year was not derived from discounting future earning 30% backward. That was a mistake I made in the post. The price for each year is based on current earning for that particular year only. The 30 % discount on apply to 1999 base on the earning in 2000. There after, each year's price is based exclusively on the earning from that year, no looking forward at all. The earning for 2000 was a little guesswork since it was said that DCL NDA will be submitted in quarter 4 this year and if we assume a one year lag between launching the product, we can expect probably 1/4 X 2.3 billions X 5% =75 cents. Xopenex may contribute quite a bit. OOps,I have to take off I do this later.