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Biotech / Medical : ANDRX-Reaffirm Outperform Recommendation-Gruntal Research
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To: James Silverman who wrote (3)11/7/1996 11:41:00 PM
From: PAUL ROBERT ST. ONGE   of 23
 
Hoechst has filed patent claims, to what appears to be more a non-patent issue. Regarding timings, approval of generics is about the midway average of 15-18 months (Cardizem submitted 9/95). My understanding is that the courts are becoming some-what ill-disposed to meritless nuisance lawsuits (which was not the original purpose of the Waxman-Hatch law) of this kind. Secondly, the most recent patent in addition to the patents already secured illustrates the uniqueness of the technolgy employed in the Andrx product, not the duplication of someone elses work. Analyst projections have been placed on the conservative side, and do not ( I repeat do not) include the Andrx expansion into the international markets. Andrx will be producing and marketing their own drugs (through their drug distribution channels)
creating almost unheard of profit margins. Name another developmental drug company with $85+ million annual sales (none of it from own dev drugs) and growing at a rapid clip, $34 million in cash, with 18 drugs in the pipeline. I will save you the search, you will not find one. Not to mention additional announcements, patents, ANDA's, and JV's all expected by the analyst's. You only put that kind of information in
research packets only if it is expected. And im expecting it. Also
Dr. Chen is a truely gifted scientist and has now been joined by additional assistant's and scientist's. Institution's currently hold
approx. 10% of the stock. Some very prominent.
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