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Drugstore.com IPO

This article was originally published in The Tan Sheet

Executive Summary

Shares of the online drugstore opened at $65 per share July 28 and reached a high of $70 in its first day of trading. The stock carried an opening price of $18 per share. The offering is managed by Morgan Stanley Dean Witter, as well as Donaldson, Lufkin & Jenrette and Thomas Weisel Partners. The site launched March 2 with financial backing from the online bookseller Amazon.com and the venture capital firm Kleiner Perkins Caufield & Byers
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