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Biotech / Medical : Biotech Valuation
CRSP 51.90-0.5%2:12 PM EST
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To: Biomaven who wrote (2561)1/13/2001 5:43:21 PM
From: Thomas M.   of 52153
 
<<< "About five years ago, Warner-Lambert was sort of a second-rate company," he says. "It was a lackluster drug company and it was in the penalty box at the FDA," because of costly manufacturing deficiencies. Yet Wichman was high on a couple of products in the drug pipeline "that could really change the company" if they were approved. "I got the guys together and said, 'At some point, we're going to want to own this stock," " says Wichman, who began his career in 1969 at the old Shearson Hammill. Some time after that Warner-Lambert got an insequential product approved by the FDA, one that the Wall Street analysts virtually ignored because it had little financial importance in the short term. To Wichman, however, it was clear evidence that the company was off the FDA's blacklist. >>>

I did not know the FDA blacklists companies.

Tom
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