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Biotech / Medical : Centocor ( CNTO )

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Mar 7 3:00 PM EST

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To: m33806 who wrote (701)	5/30/1998 9:33:00 PM
From: Dorine Essey	Read Replies (1) of 965

Hi, Found this in my Quicken Alerts!!! 29-May-1998 15:13:58 (01220257 FDA Panel Recommends Approval of Centocor's Drug to Treat Crohn's Disease; Cowen Notes Rumor That Label Restrictive NEW YORK, May 29 (Standard & Poor's) - FDA panel recommends approval of Centocor Inc's (CNTO 39 5/16 UNCHANGED) drug to treat patients with moderate to severe Crohn's disease. Cowen & Co. noted a rumor that some analysts say the label is restrictive. Analyst Eric Schmidt told Standard & Poor's he is disappointed with weakness. He said yesterday's action is clearly a significant positive for CNTO. Schmidt thinks it is clear the company got as strong a label as could have hoped for. Schmidt estimates the label will include 35% of Crohn's patients. He said the company will probably get formal FDA approval in next 1 or 2 months. Schmidt noted that yesterday CNTO reiterated that 1998 sales of Avakine drug would achieve its guidance of $35 million. He rates the stock a buy and has a $56 12-month target price. 29-May-1998 15:13:58 (01220257) Copyright 1998 Standard & Poor's Investment Advisory Services, Inc. The information contained in this report may not be published, broadcast, rewritten or otherwise distributed without prior written consent from Standard & Poor's. For permission call 1-212-770-4639.

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