Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: scaram(o)uche who wrote (1100)	7/31/1997 6:42:00 PM
From: Peter Church	of 6136

Some notes from the conference call: Peter Johnson: Spirits are high. Hardly expected sales would turn out so quickly. The sales trend is expected to remain intact. 1998 sales will exceed $250M. Two for one split to position the stock for expected appreciation. 1997 Results and 1998 Estimates: 1Q 98 sales will exceed 4Q 1997. 1998 License Fees will exceed 1997. 1998 R & D will grow 10% Alanex is a one time charge. Royalty expenses to JT will be significant in 1998. Income tax will not be paid until the deferred tax asset is fully utilized. Cash is adequate for 1998 and they expect no further equity investments. They have a $20M credit line. Analysts' Q & A's: Congratulations all around. "Agouron under-promises and over-delivers." Gross margins are better than expected. Mfg. support for 100,000 patients. Adding 2000 to 3000 patients per week. Side effects: no surprises. Profitable in 1998 1Q. July sales up. Approval for new PI's will be harder because the new drugs won't get special treatment from FDA. FDA will require more data and approval will be more rigorous. No discussion of Thymitaq. Call if interested.

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