Europe's cash position

Selected non-profitable European companies and their cash position in relation to EBITDA. Of the 21 companies, 19 have enough cash to survive for a year or more. SKP is expecting to turn cash positive in the near term. KARO has recently signed a deal under which American Home Products (AHP) will pay KARO up to $100 million (see BioCentury, Sept.10). KARO also is receiving