Novartis Message Board - Msg: 3309333

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Biotech / Medical : Novartis

NVS 125.48

+0.4%

Nov 5 3:59 PM EST

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To: Chuck. Edwards who wrote (161)	1/31/1998 10:48:00 AM
From: Chuck. Edwards	Read Replies (1) of 296

By the way, AMF, according to Zack's, Novartis is trading at 25 times "this year's" earnings (I take this to mean the just-completed year, whose earnings will be reported in March). It is trading at less than 22 times next year's projected earnings. Year-over-year growth is projected to be 16 percent. In contrast, companies like Schering-Plough and Pfizer are trading at around 40 times trailing earnings, or a 60 percent premium to Novartis. They may have somewhat higher growth rates than Novartis (Schering-Plough is growing at around 20 percent, I don't know Pfizer's rate), but you are paying a rich price for it. I am comfortable owning Novartis. Good investing Chuck Edwards

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