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Biotech / Medical : Pharmacia Corp. a future biotech powerhouse?
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To: Jack Hartmann who wrote (33)5/23/2001 4:41:16 PM
From: Jack Hartmann  Read Replies (1) of 35
 
Pharmacia (PHA) 49.37 -0.13: Prudential initiates coverage with a STRONG BUY rating and a 12-month price target of $63; says PHA should have superior earnings growth through 2004 (firm forecasts 18% annually), well ahead of the group average, combined with low patent exposure; major focus remains anti-arthritic, Celebrex (2000 sales $2.6 bln, up 78%), growth of which should pull up company-wide margins; by 2004, PHA could have three other products with annual sales over $1 bln.
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