Centocor ( CNTO ) Message Board

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Biotech / Medical : Centocor ( CNTO )

CNTO 0.00001000

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Mar 7 3:00 PM EST

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To: PawPr who wrote (732)	8/27/1998 10:56:00 AM
From: FNS	Read Replies (1) of 965

Bruce (hello!), recent Reuters article (8/25) indicated that doctors could start precribing Remicade for arthritis patients since it won FDA approval for Crohn's, therefore, without waiting for separate decision/approval. Is this legal/ethical? The same article cited: <<CIBC Oppenheimer drug analyst Matt Geller said he believed Centocor shares were richly priced at about 55 times his forecast of 1999 earnings of $0.69 per fully diluted share. "On the positive side, Centocor has achieved profitability, but at the expense of not creating a very exciting pipeline" of future drugs, Geller said. He forecast that Remicade would generate sales of $10 million in 1998 and $60 million in 1999, adding that sales would be restrained by the possible side effects, including an increased rate of infections, abscesses and nausea.>> Many "strong buys" on the stock yet this guy not so! Comments??? CNTO down below 36 in early trading this morning but now up 1+ on 400+K shares...one little bright spot in this bearish market. FNS

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