Novartis Message Board - Msg: 2087524

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Biotech / Medical : Novartis

NVS 126.59

+0.9%

Nov 6 3:59 PM EST

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To: Jim Garrison who wrote (53)	8/30/1997 8:19:00 PM
From: Jim Garrison	of 296

To all: Novartis voluntarily withdrawing Ex-Lax based on FDA proposal to ban any over the counter products containing phenphthalein because of a possible link to cancer (causes cancer in mice). biz.yahoo.com My local newspaper - Morristown Daily Record (Novartis American Headquarters is in Summit, NJ)- reported in a front page article that the company spokesman, Eric Jackson, indicated: "Jackson estimates the cost of recalling the product and destroying it in the "multi-millions"." The paper went on to indicate that the company was already working on reformulation and that local pharmacists didn't consider it such a big deal since it is not a big item. IMO the company is handling it correctly, recalling even before the comment period is over. Altho stock price may be under pressure based on news. Looks like we might have a buying opportunity. Good investing, jim garrison

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