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Meridian Bioscience, Inc. Message Board

  • conlyj conlyj Feb 12, 2001 5:00 PM Flag

    Shares Plunge

    Well VIVO bit the bullet today, and everyone bailed out. We traded over 10X normal, and hit a low of 2.43
    I was a small buyer today, adding to my long term holdings.
    Why?
    Meridian will solve/handle the FDA situation. The FDA inspectors are not demons,just bureaucrats. Plant mgr probably screwed up in the Gull transfer of (new products) manufacturing. Its fixable with some time/money/consultants and probably new plant and QA managers.
    Shifting the new ( Gull) products out of house is a reasonable alternative, and other companies would welcome the work, and at a reasonable cost. Not a big deal, and sence there is no great value in just manufacturing and boxing up the diagnostics, its not a bad way to go. I did it for 4 years in the 90s, profitably, with low tech diagnostics.
    The financial hit is mostly accounting hits.
    Real question is
    (A)--will they continue with the dividend? I hope so for it supports the stock price.
    (B)-new products--we need some more routine and at least one biggie product early this year.
    (C)-Why was management asleep as to manufacturing problems? Did they not check? Or read a report? Walk down and chat with the plant/QA mgrs.No inkling during coffee breaks that the plant was in trouble?
    These questions trouble me, but at under $3.00/share, I am a small buyer and can wait 12 to 18 months.
    And I want the dividend to continue!

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