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Biotech / Medical : Avadel AVDL
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From: IRWIN JAMES FRANKEL6/19/2007 1:38:41 PM
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Briefing.com (FLML) Ticker Alert for In Play



19-Jun-07 13:10 ET

Flamel rev and EPS estimates reduced to reflect Avandia overhang - Merriman
(23.76 -1.04)

Merriman is reducing their FY07 rev estimates to $59.5 mln and their EPS
estimate to ($0.58) from $0.27. As previously noted, safety concerns
surrounding GlaxoSmithKline's (GSK) diabetes drug, Avandia, have broadly
impacted GSK's detailing efforts, with an impact on Coreg C.R beginning in the
week ending May 25 and persisting through the week ending June 8. The impact
of this revision is magnified by a materially lower conversion rate prior to
the anticipated launch of Coreg generics in Sept, which is expected to further dampen growth rates. This effect could be offset by the anticipated release of
additional head-to-head data comparing Coreg CR against Coreg, and if this
data is significantly positive, firm would expect the pace of growth for Coreg
CR to accelerate dramatically in response.

briefing.com
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