35,000 sold, target 2M! What a diaster!
MedImmune Can't Create Shareholder Value
Forbes Staff , 11.19.03, 9:01 AM ET
NEW YORK -
MedImmune (nasdaq: MEDI - news - people ) was downgraded to "neutral" from "buy" by Merrill Lynch, saying "we have lost confidence in management's ability to create shareholder value." The research firm said that so far this flu season, "MedImmune has sold just 35,000 doses of FluMist," significantly below Merrill's prior projection of 2 million doses and its original estimate of 5 million doses. FluMist is a flu vaccine administered as a nasal mist. Merrill said the shortfall was due to reasons including FluMist's high price, late direct-to-consumer advertising, physician economics and misperceptions. Merrill said "there is likely to be a negative perception for the company for the near and intermediate |
