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Biotech / Medical : Centocor ( CNTO )

CNTO 0.00001000

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Jan 29 9:30 AM EST

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To: Gene J. Abel who wrote (87)	4/21/1997 10:28:00 PM
From: Thean	of 965

Gene, tried to search the past posting about the $1 figure but couldn't find it. Let's assume $1 is my imagination or bad recollection for now. I do remember similar scenario played out 2 quarters ago at around OCt 96 when CNTO's Reopro sales were below expectation and CNTO took a hit. It took excitement about expanded Reopro filing in Feb 97 and CenTNF to drive CNTO up to $35-$40. I think it will hold the support at $23 but at the prevailing market condition, especially for Biotech lately, I would not bet my farm on it. ------------- Below is a recent piece from Market Scope. Read between the line about "we continue to believe shares attractive for long-term investors". My take is don't expect a strong bounce near term. Forget $40 unless one is in long-term (? months) MarketScope, Monday, April 21, 1997 at 15:32 4/21/97 3:30 pm... STILL ACCUMULATE CENTOCOR INC. (CNTO 24****), DOWN SHARPLY TODAY ON SLOWER GROWTH THAN EXPECTED FOR REOPRO... Marketing partner Ely Lily reported sales of coronary drug ReoPro grew to $52 mln. in Q1, which will likely translate into $31-$33 mln. of royalty revenue for CNTO... had expected about $36 mln... Putting our EPS estimates under review for minor revision pending release of CNTO's earnings after market close... Given co.'s promising research pipeline, strong balance sheet and ReoPro's blockbuster potential, we continue to believe shares attractive for long-term investors. /R.Joy

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