ANDRX-Reaffirm Outperform Recommendation-Gruntal Research Message Board

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Biotech / Medical : ANDRX-Reaffirm Outperform Recommendation-Gruntal Research

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To: James Silverman who wrote (7)	11/13/1996 11:44:00 AM
From: PAUL ROBERT ST. ONGE	of 23

It was wise of you to do further research regarding Andrx, as far as Biovail, I believe their more interested creating hype than delivering on their promiss. Biovail has been touting a Procardia ANDA, so long that many analyst's now are questioning is it worth the wait in hype. Two major players, I expect to drop their holdings in Biovail which could hit the stock relatively soon. Andrx takes a more conservative approach, deliver results and that becomes news, not the other way around. I expect that the ANDA's that Andrx will file in 97, 2-4 will be substancial as well. Watson and Andrx do not share JV rights to Cardizem CD or Dilacor XR. I would suggest a few additional comments, as compelling as the list of drugs they have in the pipeline, the real momentum will occur with brand-name pharmaceuticals (like the Sepracor deal). Andrx does not like to be classified solely as a Biotech or a Generic producer. This may express why sometimes you can not find the stock listed in a specific catergory. The company plans on producing brand-name drugs, just as much as developing generic equivalents.

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