Fahnestock continues to rate as Strong Buy. <<The company is on track to meet or exceed our 2Q99 EPS estimate of $0.02... U.S. weekly prescriptions of Combipatch (new and refill) have increased from 2,025 in early December 1998, to 4,500 in mid-February 1999, 5,800 in mid-March, 6,500 during the first week of April, 7,737 in the third week of May, and 8,912 in the third week of June...
Noven's joint-venture with Novartis, Novogyn, launched the estradiol patch Vivelle-dot, earlier this month... Early indications suggest that physicians are converting to Vivelle-dot from older and larger estradiol patches... We estimate Noven's EPS at $0.12 for 1999, $0.43 for 2000, and $0.90 for 2001. We calculate Noven's present value at $12>>
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