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Biotech / Medical : wla(warner lambert)

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To: Ted Downs who wrote (139)	12/5/1997 2:45:00 PM
From: Zoltan!	Read Replies (2) of 942

Thanks for exchange2000.com Here's something current you may have missed: Glaxo Shares Keep Rising Despite Drug Withdrawal WSJ Interactive 12/5/97 LONDON (AP-Dow Jones)--Shares in Glaxo Wellcome PLC continued to post solid gains Friday, defying market concerns about the company's decision this week to halt sales of diabetic drug Romozin for safety reasons. Around 1455 GMT, shares in the research-based U.K. pharmaceutical company are up 23 pence at 1407 pence on the day and around 8% above their level at the start of the week..... Analysts said the withdrawal of Romozin knocks around 250 million GBP off their annual sales forecasts for Glaxo in 1999 and 2000. But while many believe the latest news is damaging to sentiment, they agree the financial impact is insignificant for a company with annual sales nearing 10 billion GBP..... Meanwhile, a drugs analyst at Morgan Stanley said he has cut his 1998 and 1999 earnings forecasts for Glaxo by 'a couple of percent.' But the analyst is maintaining a 'strong buy' recommendation on Glaxo and still has a target price for the stock of 1590 pence. All the same, it must be especially hard to swallow for U.S. drug companies Warner Lambert and Japan's Sankyo, both of which saw their share prices plunge on news of Glaxo's drug withdrawal. Shares in Sankyo, which developed Romozin under the chemical name Troglitazone and sells the drug in Japan, fell 12.3% while shares in Warner Lambert, which sells the diabetes drug in the U.S., dived 18.5%. excerpted from: interactive2.wsj.com!DI12/05++1281!&time=12/05+10:13 Nice to see an ethical company rewarded for putting safety above profits, isn't it? Thanks again. I will always reciprocate since I have so much more to work with. Regards

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