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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)

PFE 25.26

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3:59 PM EST

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To: Anthony Wong who wrote (131)	5/31/1998 9:18:00 PM
From: Anthony Wong	of 1722

American Home, Merck Are Good Bets Among Overpriced Drug Stocks Bloomberg News May 31, 1998, 4:48 p.m. PT American Home, Merck Are Good Bets Among Overpriced Drug Stocks New York, May 31 (Bloomberg) -- American Home Products Corp. is a favorite of Everen Securities Inc. chief investment strategist Rao Chalsani, who looks for bargains in what he considers overpriced sectors, Forbes magazine reported. Merck & Co. is another drug company that Chalsani likes, while he warns that Pfizer Inc. is one to avoid. Chalsani picks Qualcomm Inc. out of the expensive technology sector and predicts a 40 percent yearly growth rate for the company over the next five years, the magazine said. Earlier this month, American Home Products bought closely held Apollon Inc., a biotechnology company that's been working on DNA-based vaccines for herpes, hepatitis and the virus that causes AIDS. (Forbes 6/15 286, www.forbes.com) --Mary Guidry in the Princeton newsroom (609) 279-4028/jcn

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