The coated stent market.
In Barron's this week there is an article about the coated stent market. They admit that JNJ is on the lead, but point out that their PE is much higher than GDT's. They don't mention GDT's actinomyci-D coated stent, which seems to be out of the competition <g> and they also don't mention GDT's possible legal problems with BSX concerning the paclitaxel coated stent.
In the article they favor GDT and bash BMY (on Vanlev and Glucophage issues).
"At recent price of 65, J&J shares trade at a 50% richer multiple of next year's estimated earnings than do shares of Guidant and Boston Scientific, at 41 and 25, respectively."
"US Bancorp Piper Jaffray's Thomas J. Gunderson targets a $53 share price for Guidant, which he thinks could earn $2.24 a share in 2003, as it starts selling coated stents as well as implantible defibrillators. Boston Scientific, more the underdog, could nevertheless reach 35, says Gunderson, on 2003 year earnings of $1.32."
Up until January GDT and BSX had been outperforming JNJ, but in the last month JNJ had gone above the other two.<g>
siliconinvestor.com
Bernard |
