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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: Izzy who wrote (3459)12/29/1997 8:46:00 PM
From: JOHN W.  Read Replies (1) of 6136
 
From Union Tribune (12/28):

"BIOTECH OVERKILL"

"In whacking the stock of Agouron Pharmaceuticals, the market was exaggereating the effect of the company's decision to discontinue development of the anticancer agent Thymitaq, says Elise Wang of Painne Webber. Thymitaq would have generated only 3 percent of revenues in fiscal 2000, says the analyst, who has reduced Agouron's earnings per share forecast for 1998 to 96 cents from $1.

There will be a bigger hit in fiscal 1999: The earnings per share forecast is lowered from $2.31 to $1.93. Despite the sell-off of the stock, it remains on Painne Webber's Best Calls list."
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