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Biotech / Medical : QDEL - Quidel more quick diagnosis

QDEL 21.31

+1.5%

Nov 20 3:59 PM EST

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To: Mr Logic who wrote (805)	5/15/1997 9:19:00 AM
From: jad	of 1693

The whole sector has been hurting; Briefing's comments: MEDICAL, BIO..................4/3...............05/09..............(+) Comment: Weakness in a couple of key component issues has kept the sector on the defensive. Biogen was hit particularly hard, dropping over 20 points on concern over increased competition and the loss of patent protection on a key drug. The recent rise in interest rates also pressured the industry lower, as the group's valuations were marked down from what had been historically high levels. Briefing expects the group to continue lagging behind the market over the near-term due to poor relative strength and lingering earnings anxieties. However given the recent setback the industry's valuation picture is more attractive. In addition, heavy expenditures on R&D are beginning to pay off in the form of new drugs. Consequently, we think the group's long-term prospects look quite good. As such, we are raising our rating on the group from a 4 to a 4/3 to reflect the improved long-term outlook. Stocks:Amgen, Biogen, Centocor, Chiron, Genzyme, Immunex.

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