Biotech Short Candidates Message Board

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Biotech / Medical : Biotech Short Candidates

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To: Spekulatius who wrote (423)	2/28/2003 9:21:36 AM
From: Biomaven	Read Replies (1) of 897

Cowen has just come out with a report saying that MEDI fundamentals are some of the best in biotech and MEDI should be a core holding. MEDI/Wyeth have gone for a premium pricing strategy for FluMist, and Cowen suggests that a prospective vaccine shortage for the next season suggests they will have no trouble selling their initial 4-6m doses. Cowen is forecasting substantial earnings growth over the next 5 years. The '02 thru '06 period is projected to have a 46% CAGR in cash (i.e., excluding non-cash items) earnings. My own view is that FluMist will indeed be a blockbuster and sales of $1 billion (of which MEDI gets half) are not out of reach within 5 years. (Assuming no nasty surprises, of course). Peter

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