ANDRX-Reaffirm Outperform Recommendation-Gruntal Research Message Board

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Biotech / Medical : ANDRX-Reaffirm Outperform Recommendation-Gruntal Research

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To: Mike Carlson who wrote (1)	11/7/1996 6:45:00 PM
From: PAUL ROBERT ST. ONGE	of 23

Zack's Investment Research-Wall Street Recommendation has also upgraded indicator ranking from hold to a buy, with one broker listing -strong buy the other moderate buy, two days prior to Gruntal Recommedtaion. It is an upgrade from just two weeks ago. Current price range in $14-16. Very cheap! Company Insiders hold approx. 40% of the shares, Watson Pharmaceuticals also owns a small stake in Andrx. Based on the recent patents and patents currently held, I would expect an early approval of the "ANDA" drugs sometime in 97, almost two years ahead of schedule. If so, this will give tremedous upside potential,also expecting addition drug applications to be filed in early 97. Target price could easily be over $80 per share within three years, and most likely much sooner.

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