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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (19798)10/8/2004 1:29:00 PM
From: E_K_S  Read Replies (1) of 78624
 
Good point on MRK. Based on a possible $10B litigation liability exposure for Vioxx and their current & future pipeline, what is your price estimate that reflects fair value? I think we may have a chance to pick up shares next year somewhere in the low $20's.

From Briefing.com:"...7:29AM National class action launched against Merck in Canada (MRK) 30.98: Lawyers representing Canadians who used Merck's popular arthritis and pain-killer drug VIOXX announce that a national class action has been launched for those VIOXX users who suffered from cardiovascular complications including heart attack and stroke. In 2003 IMS Health reported that there were over 3.4 mln prescriptions for VIOXX in Canada last year, making it the 10th most prescribed drug in Canada; more 700,000 Canadians are estimated to have taken VIOXX to alleviate arthritis, acute pain and severe menstrual pain...."

I started to accumulate BMY as it has been trading near it's five year lows. I know their pipeline is sour for the next two years but if they can continue to make their dividend, the risk is low.

Any comment on BMY?

I also own a few shares of JnJ that I bought 9/03 but it is still richly priced IMO. I have been selling covered calls to generate a better total return and will probably let them call the stock at $55 next week.

The pharmaceutical industry is a good long term investment IMO so I want to maintain exposure to this industry. However, there may also be some political risk as there must be changes made to help finance our health system.

Any other stocks come to mind other than WYE?

EKS
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