Rueters has Barron's article summary:
Sunday June 7, 5:01 pm Eastern Time
Health stocks seen safe in bad times - Barron's
NEW YORK, June 7 (Reuters) - Health care stocks, hit in the early 1990s
by talk of nationalized medicine and by expiring patents at drug makers,
may be seen as better investment in an economy and stock market that
shows signs of stalling, Barron's reported.
In its June 8 issue, Barron's noted that the industry does well in good
times and bad because health knows no business cycles.
Paul Brooke of Morgan Stanley Dean Witter said Pfizer Inc.(PFE - news),
WAS boosted recently by its anti-impotence drug Viagra, has even more
potential.
NEW YORK, June 7 (Reuters) - Health care stocks, hit in the early 1990s
by talk of nationalized medicine and by expiring patents at drug makers,
may be seen as better investment in an economy and stock market that
shows signs of stalling, Barron's reported.
In its June 8 issue, Barron's noted that the industry does well in good
times and bad because health knows no business cycles.
Paul Brooke of Morgan Stanley Dean Witter said Pfizer Inc.(PFE - news),
WAS boosted recently by its anti-impotence drug Viagra, has even more
potential.
Pfizer antidepressant Zoloft maintains strong sales and U.S. Food and
Drug Administration recently approved the antibiotic Trovan against a
wide spectrum of germs.
Brooke also likes Eli Lilly and Co. (LLY - news), which may get a boost
by combining its popular Prozac antidepressant with its antipsychotic
Zyprexa, Barron's said. If the combination treatment is approved, it may
hit the market at the same time Prozac's patent it set to expire in
2003, Brooke said.
Arnold Snider, general partner of Deerfield Management, told Barron's
that Merck and Co. Inc. (MRK - news) is the only big name drug company
he favors. He said the company has the lowest price-to-earnings multiple
in the group, trading at 22 times its 1999 earnings per share estimate
of $5.15.
Snider said he likes smaller drug stocks such as Forest Laboratories
Inc. (FRX - news), which plans to launch an antidepressant called Celexa
this summer. The drug reportedly has fewer harmful interactions with
other drugs than does Prozac, Barron's reported.
As for medical equipment makers, Glenn Reicin, an analyst with Morgan
Stanley Dean Witter, said he thinks Medtronic Inc.(MDT - news) and
Guidant Corp. (GDT - news) will capture the pacemaker market and Guidant
and Boston Scientific Corp. (BSX - news) will lead the way in the
catheter business.
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More Quotes
and News:
Boston Scientific Corp (NYSE:BSX - news)Eli Lilly and Co (NYSE:LLY -
news)Forest Laboratories Inc (AMEX:FRX - news)Guidant Corp (NYSE:GDT -
news)Medtronic Inc (NYSE:MDT - news)Merck & Co Inc (NYSE:MRK - news)
Pfizer Inc (NYSE:PFE - news)
Related News Categories: health |
