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Biotech / Medical : PFE (Pfizer) How high will it go?
PFE 24.92+1.2%3:28 PM EST

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To: Anthony Wong who wrote (7973)6/29/1999 3:29:00 PM
From: Anthony Wong  Read Replies (1) of 9523
 
Clinton proposes Medicare drug benefit
cbs.marketwatch.com

The proposal comes as the Republican-controlled
Congress is pushing for a $788 billion tax cut,
which would also rely on the same pot of money
that Clinton wants for his Medicare proposals.
"Congress is highly unlikely to enact Medicare
reform this year," said Kim Wallace, a Washington
analyst for Lehman Brothers.

Lehman said Clinton's proposals would likely shake
up pharmaceutical stocks ($DRG: news, msgs), but
"should have no fundamental lasting effect on stock
prices." Pharmaceuticals were among the day's best
performers on Wall Street, rising nearly 2 percent,
with Warner Lambert (WLA: news, msgs) and
American Home Products (AHP: news, msgs)
leading the way.
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