I have PFE, BMY, JNJ, NVS also.
Have FRX on my watch list. Guess I missed an opportunity to buy when stock hit lows few weeks ago.
I've been willing to make small bets recently on a number of other drug companies in the hope that their earnings or revenues or drug approval prospects might improve, and they might consequently be looked upon more favorably by the market. These stocks include:
PRX: generic drugs. Pretty decent profit margins in recent years. Sales growth. But much of that from acquisitions. Sometimes generics don't have much of a profit life; not only can I not understand if this company is paying a fair price for its acquisitions, I can't even see the bigger picture which is, is buying other companies here a strategy that is reasonable and sustainable?
(Bus. Week now has a positive article regarding some analysts' expectations for the company.)
AMGN: Biotechnology. Strong sales and earnings. Stock seems to be at relatively low price imo. (However, "relative" is such a dangerous word, and as regards "imo": I've been wrong many, many times.)
IVGN: supplier of research data, reagents, tissue culture, etc. Good sales growth, relatively low forward p/e, some insider buys @$50 (stock closed Fri. @55+). A real speculation at this point, imo.
OSIP: a speculative bet on cancer drug Tarceva being approved in '05.
IMDC: Medical device company. Averaged up a little on this one after FDA approved Genzyme's Hylaform Plus for facial wrinkles. Inamed will market and distribute drug world-wide.
Hoping I can get a decent gainer in one or more of the above and that the gains will exceed the losses I might see on any of the losers.
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Also still holding a few shares of ABT, a few shares of KG, ELN, and a few shares of microcap drug plays which were cash plays in '03 such as CRXL, PCYC. |
