Health-Care Fund Mgr Likes Novartis, Caliper Tech
Dow Jones Newswires
May 25, 2000
NEW YORK -- Sam Isaly, portfolio manager of the Eaton Vance Worldwide Health Fund, is "as bullish as I've ever felt" about health-care and biotechnology stocks.
In a Thursday CNBC appearance, Isaly said fundamentals are turning to the upside and recent mergers are "relatively well-priced."
Recent New York Stock Exchange debutante Novartis AG (NVS) is a "special" company, Isaly said, citing low valuations, a reasonable price-to-earnings ratio of about 20, and a full drug pipeline.
"They're going to introduce more new drugs this year and in the next two years than any other company in the world," he said.
Isaly also recommended Caliper Technologies Corp. (CALP), which develops lab-on-a-chip technology. Profitability won't come for three or four more years, Isaly said, but the company has an "extraordinary outlook over the next 10 years."
Other Isaly picks included GelTex Pharmaceuticals Inc. (GELX), Eli Lilly & Co. (LLY) and Tularik Inc. (TLRK).
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No profits for 3-4 years. Ouch.
Jack |
