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

PFE 24.65

+1.5%

Oct 31 9:30 AM EST

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To: peter_carey who wrote (1655)	3/8/2000 3:57:00 PM
From: SIer formerly known as Joe B.	of 1722

RESEARCH ALERT - Pfizer raised to strong buy NEW YORK, March 8 (Reuters) - Banc of America Securities analyst Leonard Yaffe said Wednesday it raised its rating on drug company Pfizer Inc. <PFE.N> to strong buy from buy. Shares of Pfizer were up 2-9/16 at 33. -- Said raise reflects increasing confidence that the company will be able to achieve earnings per share estimates of $1.04 and $1.25 for 2000 and 2001, respectively. -- Upcoming merger with Warner-Lambert will create a pharmaceutical powerhouse that will be able to grow EPS at a 24 percent rate. -- Pfizer filed with the U.S. Food and Drug Administration for approval of Zyrtec-D, which was not expected until later this year. -- Said the recent decline in Pfizer's stock is attributed primarily to the overall weakness in major pharmaceutical companies' stocks that seems to reflect investor enthusiasm for more speculative healthcare investments, as well as legislative concerns. -- Said a Medicare prescription drug benefit plan would be a neutral to slightly positive event for the drug industry. -- Said Pfizer is well-positioned, given its relative lack of near-term patent expirations, its diversified product portfolio (seven drugs with sales exceeding $1 billion, including co-marketing agreements), and its pipeline. -- Remained excited about the prospects for inhaled insulin, which is currently in Phase 3 clinical trials. -- Was optimistic about the prospects for the atypical antipsychotic Zeldox, which should be on the market later this year. ((Angela Moore, New York Healthdesk, (212) 859-1719)) REUTERS * end of story *

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