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Biotech / Medical : Centocor ( CNTO )
CNTO 0.000010000.0%Mar 7 3:00 PM EST
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To: FNS who wrote (487)12/31/1997 1:02:00 PM
From: Giuseppe Scalamogna  Read Replies (1) of 965
 
Buon anno FNS, Pancho and the thread,

Sorry I haven't been on for a while but my busy schedule warrented me little time to come on the thread and post.

Essentially, the fundementals for CNTO are still intact. What cause the slew of analyst downgrades was purely a function of the failure of the Company to find a marketing partner which will adversely effect calender 1997 earnings. However, if the company is able to sign a partner on in '98 this shortfall in '97 will come as an increase in the 1998 estimates.

I think many of the CNTO bulls on Wall Street with the companie's inability to find a partner to market Avakine. Many of them had banked on this to pull them out of the November slump. As I have understood it the pullout by the marketing partner was a last minute decision and was not related to the safety profile of the drug. Hopefully, this was the case and in speaking with the company I have been told that they still have several other partners in discussions and could see a possible signing in the 1st quarter of 1998.

Keep in mind that Reopro continues to be strong and with expanded indiactions could continue to carry the company forward through 1998. Avakine for Crohn's disease alone could be a big hitter and if eventually approved for RA could be a true blockbuster drug.

Let's just hope we are not being misled by the company and analysts. I am still holding on in here.

GS
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