PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 25.08

-2.7%

Nov 14 9:30 AM EST

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To: Ron Flanigan who wrote (5979)	10/14/1998 9:27:00 AM
From: Tokyo VD	Read Replies (1) of 9523

Ron, Here is a Street.com review of the negative impact of the failed AHP-Monsanto failed merger. Pfizer (PFE:NYSE), which has a co-marketing deal on Celebra and will get a share of sales that is estimated to escalate as the superaspirin's sales rise. The market interpreted the collapse of the deal as good for Pfizer and sent the stock up 2 3/4 during New York trading to 95 3/4, though Pfizer shares retreated sharply in after-hours trading after the company reported weak third-quarter earnings. Investors were apparently thinking that Monsanto and Pfizer would renegotiate and make the Celebra deal better for Pfizer. Unless that happens, however, the deal's collapse is a negative for Pfizer, said one hedge manager who is short Pfizer. The American Home-Monsanto deal was to expand the Celebra-sales pie, benefiting Pfizer as well. As sales growth from Viagra slows down, Pfizer's earnings take a hit and Celebra becomes that much more important. The company reported maimed third-quarter results of 51 cents a share, compared to First Call consensus of 56 cents a share.

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