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Biotech / Medical : PFE (Pfizer) How high will it go?
PFE 26.45+2.3%Dec 15 3:59 PM EST
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To: Stephen who wrote (7835)6/9/1999 4:02:00 PM
From: Anthony Wong  Read Replies (1) of 9523
 
Stephen, I haven't done a detailed analysis but PFE had 1Q total revenues of $3.93 B, so even taking a worse case scenario of zilch Trovan sales doesn't justify PFE's price drop to the low $100's from $150. I expect the impact on earnings would only be under ten cents/year. Analysts would be revising the sales from Trovan in the next few days and this would put further pressure on the stock price.

Here is an excerpt from a May 26 Bloomberg article:

In a report, Merrill Lynch analyst Steven Tighe wrote that
there was underlying liver disease or use of other medications in
most of these cases. Tighe said he is maintaining his accumulate
rating on the stock.

Tighe also said he is evaluating his Trovan sales estimates
of $307 million for 1999 and $466 million for 2000 and may revise
them. Trovan sales were $160 million in 1998, its first year on
the market.
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